The cryptocurrency market is experiencing a slight sell-off this Sunday morning, with several cryptocurrencies, including XRP, trading downwards. In the last 24 hours, $138 million in derivatives market positions have been liquidated, primarily driven by short positions totaling $90 million. Amidst market uncertainty, a surprising trend emerges: XRP’s funding rate is positive according to CoinGlass data, indicating potential bullish sentiment. A positive funding rate signifies traders are optimistic about the asset’s future price, leading to increased demand for long positions. Consequently, more buyers are engaged in buying contracts (long) than sellers, driving up the contract price above the spot price of the underlying asset. This means those with long holdings pay a fee to those holding short positions. On Binance, the XRP/USD funding rate stood at 0.0031% as of writing. At the same time, XRP was down 1.25% in the past 24 hours to $2.06. XRP shows signs of a potentially significant price move ahead. After falling to $2.03 on April 16, XRP has consolidated with tighter ranges over the subsequent five days. This consolidation has left traders awaiting its direction next. If this consolidation continues, it might lead to a larger surge either upwards or downwards. Volume dropped by 19% in the past 24 hours to $1.39 billion, a normal occurrence before breakout volatility resumes. Bears have failed to push XRP below the $2 support level, indicating a lack of selling pressure at these lower price points. Bulls might attempt to propel a comeback, potentially hitting the 50-day SMA around $2.23. This short-term level should be closely watched, as breaking above it could pave the way for further upside gains. Alternatively, a break below the $2 support shifts the odds in favor of bears, with XRP possibly plunging to the $1.72 to $1.61 support level.