XRP funding turns most negative among majors

TLDR

XRP (XRP) currently has the most negative perpetual funding rate among major coins, signalling that traders are paying to hold short positions against it.

1. An Oct. 8 derivatives snapshot shows XRP funding at about -3.4 percent annualized, the lowest among BTC, ETH, SOL and DOGE, confirming the headline.
2. The skew reflects bearish positioning and cautious sentiment around XRP, even as ETF flows and whale holdings stay relatively steady.
3. The key things to watch are whether funding normalizes, how open interest evolves, and whether macro yield pressures and XRP specific catalysts shift the setup.

Deep Dive

1. What Most Negative Funding Means

In perpetual futures, negative funding means traders who are short pay those who are long, usually because the contract trades below spot and there is more demand to be short.

In a recent Oct. 8 perpetual snapshot, XRPs funding rate was reported at -0.0031 percent every eight hours, about -3.4 percent annualized. That was the lowest among five majors, with Bitcoin, Ethereum and Dogecoin all positive and Solana slightly negative.

At the same time, XRP open interest in that snapshot was about 444.3 million dollars and had fallen 5.54 percent in 24 hours, suggesting traders were reducing exposure while the remaining positions leaned toward short carry.

2. Positioning, Price And Sentiment

Despite the negative funding, accounts in the same snapshot were about 71.8 percent long and 28.2 percent short, showing that many participants still hold long XRP but shorts are willing to pay to maintain their stance.

Separate coverage notes XRP funding flipping negative and staying below zero as the token extended several days of losses, with weekly declines above 6 percent and mixed long to short ratios on derivatives dashboards, reinforcing a bearish tone in futures markets.

On the sentiment side, crowd data from Santiment shows XRP social commentary skewing more negative than Ethereum, with a low bullish to bearish ratio and headlines highlighting how Uptober has instead begun with pessimism for both altcoins.

3. Balancing Flows And What To Watch

There are offsets. U.S. spot XRP ETFs have logged net inflows in recent weeks, with about 1.697 billion dollars in net assets and modest positive flow streaks even as prices pulled back, according to recent XRP ETF flow analysis.

On chain and exchange analytics also highlight that large XRP holders have been relatively inactive while estimated leverage ratios decline, which suggests a positioning reset rather than aggressive spot dumping.

Going forward, useful signals include whether XRP funding moves back toward neutral, how open interest in XRP perps changes relative to price, and how macro pressures from high yields and upcoming Federal Reserve decisions interact with XRP specific catalysts such as conferences or legal and regulatory news.

Conclusion

XRPs funding rate turning the most negative among majors captures a clear tilt toward bearish perpetual positioning, even though spot flows and ETF demand remain more mixed. If funding stays deeply negative while open interest rebuilds, futures markets could continue to drive XRP volatility; if funding normalizes alongside improving sentiment or stronger spot demand, the current pressure may instead mark a reset rather than the start of a deeper downtrend.