Maybe. There's also "dark energy" - they don't quite know what exactly it is, maybe it's some property inherent to space itself. But the expansion appears to be accelerating.
Maybe it's a repulsive force that is generally weak, but when it's not overcome by gravity, it can be rather powerful.
So if not the "Big Crunch," then we'd be looking at "Heat Death." Everything with a temperature above absolute zero produces electromagnetic radiation. Think about what metal does when it glows red-hot. That's just because the temperature increased the frequency of the EM output enough such that it entered our visual spectrum.
But since everything is radiating energy out into empty space, eventually everything is going to cool off to nearly absolute zero. In a LONG time, elements will undergo radioactive decay, and even protons will likely decay too, though they've got an insanely long (theorized) half-life, something like 10^36 or 10^38 years, which is much older than the age of the Universe.
Pretty well the same thing you'd expect of an explosion on Earth. Big, violent eruption of energy, followed by an expanding shock wave, full of turbulent matter and energy behind the wave. Eventually, it all dissipates and cools.