XRP Derivatives Signals Point to Neutral Market Structure

An analysis of XRP derivatives signals suggests that the market structure has shifted to a neutral phase.

CryptoQuant analyst Phelline noted that the scale of long and short liquidations on Binance has not diverged sharply, with long liquidations at about 103,000 XRP and short liquidations at around 122,000 XRP. Phelline stated that if strong downward pressure had persisted, long-position liquidations should have been much larger, and if buying had been strong, short liquidations should have surged due to a short squeeze.

The funding rates staying near zero is another basis for the neutral view, suggesting that traders are not placing strong bets on either the long or short side. Similar liquidation volumes also indicate balance in leveraged positions, with liquidations occurring on both long and short sides rather than only one side collapsing whenever prices briefly swing.

The analysis highlights that weakness in spot prices and neutral signals in the derivatives market are appearing at the same time. It suggests that future price direction may react more sensitively to whether support holds and resistance is reclaimed, as investor sentiment is not tilted to one side.