XRP Shorts Remain Strong Amid Ripple Legitimacy Hopes, DOGE Approaching Ominous Death Cross, BTC Dominance Reaches Four-Year High

XRP, Dogecoin, Bitcoin News: XRP Shorts Remain Hot on Ripple Legitimacy Hopes, DOGE Approaches Ominous Death Cross, BTC Dominance Reaches Four-Year High

Author: Omkar Godbole | Edited by: Parikshit Mishra Updated: Mar 13, 2025 6:46 AM UTC Published: Mar 13, 2025 6:34 AM UTC

What you need to know:

• XRP funding levels and cumulative volume delta show continued short bias despite the recent price rally. Several other tokens are showing similar trends.
• DOGE is heading towards the grim death cross, which has a mixed track record in predicting trends in the BTC and ETH markets.
• Traders continue to move funds from altcoins to Bitcoin.

The cryptocurrency market appears to have stabilized, but traders are cautious about altcoins like XRP while continuing to funnel funds into the leading cryptocurrency, Bitcoin (BTC).

XRP, the token used by Ripple to facilitate international payments, has risen more than 3% to $2.24 in the past 24 hours, largely on hopes that the lawsuit between Ripple and the Securities and Exchange Commission (SEC) will be resolved soon.

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According to Velo data, amid rising prices, total open interest in perpetual futures on major exchanges has stabilized at around 1.35 billion XRP, with annual funding rates and total volume deltas turning negative.

Negative funding rates indicate that short positions are paying counterparties a fee to keep their bearish bets open. This indicates that bearish short positions are prevalent in the market. A negative cumulative volume delta, which measures the net inflow of capital into the market, indicates that selling volume is exceeding buying volume, potentially signaling a bearish trend.