Analyst: Binance XRP funding rate hits a one-year high, while spot ETF sees a net outflow of $10.4 million

Binance’s XRP perpetual contract funding rate has surged to its highest level in over a year, according to CryptoQuant analyst Darkfost. The last time it reached a comparable peak was in October 2025—shortly after XRP hit its all-time high of $3.55. Although XRP’s current price is roughly 30% below that peak, derivative positions on Binance remain heavily skewed toward longs, signaling pronounced long-side congestion. In stark contrast, spot XRP ETFs are experiencing one of their worst outflows of the year: a single-day net outflow of 9.37 million XRP—worth approximately $10.4 million. Darkfost cautions that shifts in market sentiment typically lag the end of a rally; as prices decline, maintaining a persistently bullish stance may face mounting pressure.