✅The futures of XRP and DOGE show increasing 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 rising, 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, 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 more than $1 billion, although the spot price rose more moderately, from $2.14 to $2.6.
The blockchain analysis firm Glassnode noted that the divergence between declining price momentum and the increase in open interest suggests a continued accumulation of 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 the growth of leverage has outpaced actual market confidence, a pattern that has historically led to sudden drops.
