Dogecoin (DOGE) is facing a steep market cooldown after weeks of heightened trading activity in early October. Data from CoinGlass shows that both Open Interest (OI) and trading volume for DOGE futures have crashed, indicating a sharp decline in the meme coin’s momentum. The latest figures reveal a significant pullback in derivatives activity and spot market participation, suggesting that traders may be retreating from speculative positions as volatility eases. 

Dogecoin Open Interest Crashes Over 60%

Dogecoin’s Open Interest has plunged dramatically from its October highs, reflecting a rapid exodus of leveraged traders from the market. According to CoinGlass, total exchange DOGE futures Open Interest has fallen over 62% from a peak of $5.03 billion on October 7 to $1.88 billion on October 28. This represents a drop to approximately 9.41 billion DOGE, valued at $ 0.20 per token.

Despite the decline in Open Interest, Binance, BitMEX, and Bybit continue to lead as the top exchanges with the highest Dogecoin futures activity. Still, the downturn has been widespread across exchanges. Kucoin recorded the largest drop in recent hours at 3.1%, followed closely by Bitget, which saw a 2.27% decline. Over the last 24 hours, Bitunix recorded the steepest drop in Open Interest, down 15.86%, while Crypto.com saw a 7.36% reduction. 

Even Binance, which consistently leads Dogecoin futures trading, has seen a notable pullback. CoinGlass reports that the exchange’s Open Interest peaked at $964.7 million on October 7, marking a monthly high. Since then, it has fallen to $380.29 million (1.9 billion DOGE), representing a staggering 60.6% crash in just over three weeks.

Dogecoin Sees Even Worse Decline In Volume

Trading volume for Dogecoin has mirrored the collapse in Open Interest. CoinGlass data shows that Dogecoin’s futures volume heatmap across major crypto exchanges is in the red zone. Total trading volume had spiked to $20.45 billion on October 11, following the devastating crypto flash crash on October 10, but has since plummeted to $5.31 billion as of October 28. This represents a whopping 74% decline.

On individual exchanges, Binance’s DOGE trading volume dropped by 9.35% in the past 24 hours, while OKX saw a 13.69% decline. CoinEx recorded the largest volume decrease at 26.1%, followed by Gate.io at 23.94%. Popular exchanges like Bitget, Kucoin, and Bitunix also reported varying declines of 4.96%, 20.37% and 13.16%, respectively, as overall market liquidity thinned. 

However, a few exchanges bucked the downward trend, recording slight gains. dYdX saw its DOGE volume surge by 167.61%, HTX increased by 49.93%, and Hyperliquid rose by 23.88%. Bybit and MEXC also recorded modest gains of 24.98% and 1.88%, respectively. 

Alongside its decline in trading volume, CoinGlass notes that Dogecoin’s price performance has slipped. The meme coin is currently trading at $0.20, down 13.19% over the past 30 days and 2.86% in the last 24 hours.

The XRP market is bracing for a new phase of intense volatility, with anticipation growing around key legal, regulatory, and institutional developments. Ripple CEO Brad Garlinghouse has recently addressed the XRP community, offering guidance and setting expectations for what is to come. 

XRP Unusual Stability May Be Setting Up A Major Move

The cryptocurrency world is buzzing with increased anticipation for XRP, following a series of strategic announcements from Ripple and compelling technical analysis. Popular crypto news source CryptosRus has highlighted on X that the altcoin is poised for a sharp move, as Ripple CEO Brad Garlinghouse has mentioned that investors should be prepared for a substantial shift.

At the core of this move, Ripple has just launched Ripple Prime, a new global prime brokerage service tailored for institutional clients. According to the company, Ripple Prime will be powered by Ripple’s foundational digital asset infrastructure, encompassing its robust solutions for payments, crypto custody, and stablecoin capabilities, alongside XRP.

However, CEO Brad Garlinghouse called this move another step toward building the internet of value, emphasizing that the XRP sits at the center of everything Ripple does. CryptosRus noted that the altcoin has recently bounced off a key support level at $2.33. This technical indicator is signaling a potential 30% rally, with an initial target of $3.45 or even higher, as market momentum continues to build.

An analyst known as TylerHillYT, who is also the president of FluenceGlobal and Co-Founder of the CSS, has also stated that the XRP price comeback is showing structural strength. In just a day, the token burn rate spiked 29%, mirroring its 29% price surge, signaling a synchronized increase in both on-chain demand and heightened investor activity.

This Ripple’s deeper expansion into traditional finance and the recent launch of Ripple Prime have caused the network usage to ramp up again. TylerHillYT emphasized that at the accelerated pace, XRP is not just riding a wave of market momentum, but it’s rebuilding its long-term narrative. However, the burn acceleration with renewed institutional traction could be the early signs of a sustained upward trajectory, pushing the token structurally toward the $3.00 mark.

Connecting Market Surge To Foundational Growth

While the digital asset market is vibrating with renewed excitement surrounding XRP, a prominent crypto influencer and creator on Binance and CMC, Jack, has revealed that the bulls have firmly smashed through the critical $2.55 resistance level with conviction. This decisive breakout has now set the immediate sights of traders on $2.80 and beyond.

Jack mentioned that whale activity is back, and the Open Interest (OI) is climbing steadily, while sentiment is flipping fast. If this powerful momentum holds, the next significant pit stop for XRP could be the $3.00 mark and beyond.

Crypto analyst CryptosRus has drawn attention to the open interest reset for XRP. The analyst also explained why this development could spark a major price surge for the altcoin. 

XRP’s Open Interest Drops To New Lows

In an X post, CryptosRus revealed that XRP’s open interest on Binance has dropped back to the same lows that were seen in May 2025. The analyst noted that back then, the liquidation flush sparked a massive rally for the altcoin, which pushed it to $3.50. He added that this time around, the open interest is at the floor again, but the price is holding around $2.6. 

CryptosRus stated that this means that leverage is gone while the strong hands are still holding XRP. The analyst predicted that if new liquidity enters, this setup could signal the next leg up for the altcoin. He added that rallies usually start when leverage is low, spot demand is strong, and shorts are trapped. 

Notably, XRP has witnessed new demand with the launch of the largest XRP treasury company, Evernorth. The company has already accumulated up to $1 billion in XRP with Ripple’s backing and has revealed plans to continue accumulating more, using gains from its DeFi activities. Notably, the company stated that it will purchase XRP on the open market, which is expected to impact the altcoin’s price. 

Meanwhile, the SEC is expected to approve the spot XRP ETFs once the U.S. government shutdown ends. This could drive new liquidity into the altcoin, boosting its price. Moreover, experts such as Canary Capital’s CEO Steven McClurg have predicted that the XRP ETFs could see more inflows in their first month than the Ethereum ETFs did. 

XRP Is Gearing Up For A ‘Face Melting’ Rally

Crypto analyst Ether stated that XRP is quietly gearing up to melt faces and that most aren’t even aware or ready for what is coming. This came as the analyst alluded to an earlier analysis, in which he revealed that a similar scenario from a previous cycle was playing out for the altcoin. 

Ethere stated that XRP’s cyclical structure is showing a striking similarity again. After the altcoin’s rally in 2017, its price was rejected from the 2013 all-time high (ATH) level and then retested the 2014 ATH level, which had previously acted as resistance. XRP then began its parabolic run after it accumulated strength in that range. 

Now, this same XRP price action is playing out again, according to Ether. He noted that after the strong surge in 2024, the altcoin’s price was rejected at the 2017 ATH level and retested the 2021 ATH level, which had previously acted as resistance. The analyst added that the power accumulation phase is now underway in this region and that once it is complete, the next parabolic run will be inevitable. 

At the time of writing, the XRP price is trading at around $2.63, up in the last 24 hours, according to data from CoinMarketCap.