XRP and Dogecoin Futures Surge: Speculative Positions Accumulate Despite Sluggish Market Prices

COINOTAG News reports that as of May 14th, the cryptocurrency markets are displaying contrasting behaviors in the futures segment, particularly with XRP and Dogecoin (DOGE). Despite a lackluster spot price, there has been significant **activity** in these futures markets, underscoring an increasing appetite for **volatility** and a willingness to engage with **downside risks**. Recent data indicates that the open interest for DOGE futures has skyrocketed by **63.9%** over the past week, climbing from **$9.89 billion** to **$16.2 billion**. During this timeframe, the actual spot price for DOGE also appreciated by **40%** to reach **$0.23**.
Conversely, XRP futures saw an open interest rise of **41.6%**, adding over **$1 billion** in contracts, although the spot price only marginally increased from **$2.14** to **$2.6**. According to on-chain analytics provider **Glassnode**, this divergence between diminishing price momentum and surging open interest suggests that speculative trading is gaining traction. This scenario often raises alarms, as elevated open interest can indicate that speculative **leverage** is outpacing genuine market **confidence**, potentially leading to sudden market corrections.