Speculation Rises in XRP and DOGE Futures Despite Price Stagnation

Despite sluggish spot prices, the futures markets for XRP and Dogecoin (DOGE) are showing increased speculation, reflecting a growing appetite for volatility and potential downside risk. According to BlockBeats, significant changes in these markets highlight this trend: 📈 💰 ⬇️ DOGE futures experienced a remarkable 63.9% surge in open interest over the past week, rising from $989 million to $1.62 billion. This dramatic increase coincided with a 40% jump in the spot price of DOGE to $0.23. Meanwhile, XRP futures showed a more modest 41.6% rise in open interest, adding over $1 billion, but their spot price saw an equally significant climb from $2.14 to $2.6. Blockchain analytics firm Glassnode noted that the diverging dynamics between declining price momentum and this surge in open interest suggest a continuous buildup of speculative positions. This pattern warrants caution: when open interest diverges from stagnant prices, it often signals that leverage growth has outpaced actual market confidence—a trend historically linked to flash crashes. 📉