XRP, TRX, and DOGE Lead Bullish Momentum as Perpetual Funding Rates Surge

Perpetual funding rates are signaling bullish sentiment for top altcoins even as Bitcoin (BTC) starts Q3 with stagnant price movement near $107,000. These rates, paid every eight hours on perpetual futures contracts, reflect the cost of holding long or short positions. A positive rate means longs are paying shorts, indicating bullish momentum.

According to data from Velo, XRP posted the highest annualized funding rate among the top 10 cryptocurrencies at nearly 11%, highlighting strong demand for leveraged long positions. TRX followed at 10%, and DOGE at 8.4%. Bitcoin and Ether (ETH) maintained marginally positive rates, showing relatively balanced sentiment.

This trend suggests a growing appetite for upside exposure to XRP, aligning with last week’s uptick in bullish sentiment, even as Ripple’s legal standoff with the SEC remains unresolved. The interest in XRP futures underscores its potential to outperform in the near term.

Beyond the top 10, privacy-centric Monero (XMR) recorded a funding rate exceeding 23%, while Stellar (XLM) showed a sharply bearish tilt with a negative rate near -24%.

Historically, Q3 has been the weakest quarter for Bitcoin, with an average return of just 5.57% since 2013, compared to an 85% average gain in Q4, according to Coinglass. BTC has hovered in a tight $100,000–$110,000 range for nearly 50 days, as long-term holder sell-offs counter ETF inflows.

Traders now await key macroeconomic events, including Fed Chair Jerome Powell’s Tuesday remarks and Friday’s nonfarm payroll report, which could break the current market deadlock. Rising funding rates may be the first sign of a broader bullish breakout in altcoins.