CandleFocus XRP and Dogecoin Funding Rates Point to More Upside in Market Recovery
2025-01-07
Author: Content Editor
XRP and Dogecoin have experienced significant gains in the crypto market recently, with XRP gaining 20% and Dogecoin gaining 26% in the past week. However, futures market data suggests that the rally may be just beginning. Funding rates for XRP and Dogecoin perpetual contracts remain neutral at 0.01% and 0.011% respectively, indicating a balanced or cautious market environment. This suggests that the rally is not driven by excessive leverage and could be more sustainable. However, it also opens the possibility of a short squeeze in extreme conditions. Similar neutral funding rates have been observed for Bitcoin, Ethereum, and Solana. Analysts have offered price targets for XRP and Dogecoin, with predictions ranging from a 470% surge in XRP's price to a market cap of $500 billion for XRP and targets of $0.42 and $0.64 for Dogecoin. However, there are also warnings of potential price corrections.
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