$XRP and DOGE Futures Show Growing Speculation Despite Price Stagnation. According to BlockBeats, despite a slowdown in spot prices, speculative positions in the XRP and Dogecoin (DOGE) futures markets are increasing, indicating a growing market preference for volatility and downside risk. The data reveals significant changes in the futures market:
DOGE futures saw a 63.9% increase in open interest in one week, from $989 million to $1.62 billion, while the spot price rose 40% to $0.23. Similarly, XRP futures saw a 41.6% increase in open interest, adding over $1 billion, although the spot price increased more modestly, from $2.14 to $2.60. Blockchain analytics firm Glassnode noted that the divergence between declining price momentum and rising open interest suggests a continued increase in speculative positions. This situation requires 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.
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