Analysis Company Warned About XRP and DOGE! "Speculative Positions..."

In the cryptocurrency market, as speculative positions on futures contracts for XRP and Dogecoin (DOGE) rapidly increase, the loss of momentum in spot prices is noteworthy.

This situation indicates that investors have started to use more leverage in response to increasing volatility appetite and downward risks.

According to data shared by on-chain analysis firm Glassnode, in the past week, DOGE futures open positions increased by 63.9%, rising from 989 million dollars to 1.62 billion dollars. During the same period, the price of DOGE gained approximately 40% in value, surpassing the level of 0.23 dollars.

Glassnode stated on the social media platform X, "This divergence indicates that speculative positioning continues despite the weakening of price momentum. This situation should be monitored closely."

A similar trend is being observed on the XRP front. Open positions in XRP futures have risen by 41.6% in a week, increasing from $2.42 billion to $3.42 billion. However, the rise in XRP's price has remained more limited compared to DOGE, climbing from $2.14 to $2.6.

Glassnode's data also indicates significant activity in the Bitcoin spot market. The 7-day moving average spot trading volume of Bitcoin has increased, reaching 5 billion dollars as of yesterday. This rise represents a "net buying" demand that has only been seen a few times this year. Analysts indicate that this situation shows that the psychological threshold of 100,000 dollars is supported by real spot purchases.