XRP and DOGE Futures Show Rising Speculation Amid Price Stagnation

According to BlockBeats, despite a slowdown in spot prices, speculative positions in the futures markets for XRP and Dogecoin (DOGE) are increasing, indicating a growing market preference for volatility and downside risk. Data reveals significant changes in the futures market: DOGE futures saw a 63.9% surge in open interest within a week, rising from $989 million to $1.62 billion, while the spot price increased by 40% to $0.23. Similarly, XRP futures experienced a 41.6% increase in open interest, with an addition of over $1 billion, though the spot price rose more modestly from $2.14 to $2.6. Blockchain analytics firm Glassnode noted that the divergence between declining price momentum and the surge in open interest suggests a continuous buildup of speculative positions. This situation warrants caution, as open interest (OI) serves as an indicator of speculative activity. When OI diverges from stagnant prices, it often signals that leverage growth has outpaced actual market confidence—a pattern that has historically led to flash crashes.