Ripple (XRP) continues to grow, even amid high short position volumes in the market. From September 16 to 27, the Spot Cumulative Volume Delta (CVD) increased from -$2.27 billion to approximately -$2.70 billion, indicating a short selling volume of $430 million. Trading volume on the Binance platform also changed, rising from -$1.0 billion to approximately -$1.2 billion, while the price of XRP increased by 5.00% during the same period. One of the main factors contributing to this growth has been investors operating in the spot market.
According to CoinGlass, the overall inflow of funds in the spot market shows that there have been more withdrawals recently. Over the past 24 hours, the outflow of funds amounted to -$17.11 million, and over the past seven days, it totaled -$60.33 million. This indicates that investors are moving capital into private wallets for long-term storage. Spot accumulation helps XRP cope with selling volumes in the perpetual market, as it absorbs much of the selling pressure. In addition, the positive Funding Rate also supports the bullish trend.
Since September 16, the Funding Rate has remained positive, increasing from 0.0062 to 0.0081. This indicates that most funds in the perpetual market are positioned for an upward trend, which may contribute to further growth of XRP. Overall, if accumulation in the spot market continues and the Funding Rate remains positive, XRP is likely to maintain its bullish trend. However, market overheating could jeopardize this forecast, requiring careful monitoring of further changes in investor activity and market indicators.
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