According to BlockBeats, on May 14, despite the spot price showing signs of fatigue, speculative positions in the XRP and Dogecoin (DOGE) futures market continue to accumulate, indicating that the market's preference for volatility and downside risk is heating up. Data shows:
· DOGE Futures: Open interest surged by 63.9% in one week (from $989 million to $1.62 billion), while the spot price increased by 40% to $0.23 during the same period; · XRP Futures: Open interest grew by 41.6% (increment exceeding $1 billion), with the spot price rising more moderately (from $2.14 to $2.6).
On-chain analysis company Glassnode indicates that the divergence between declining price momentum and rising open interest suggests that speculative positions continue to accumulate, which is a situation worth watching. Open interest (OI) serves as a barometer for speculative activity, and when it diverges from stagnant prices, it often signals that the growth of leverage has exceeded actual confidence—this pattern has previously triggered flash crashes multiple times.
