XRP Futures Volume Surpasses Solana on Kraken as Token Hits New High
XRP perpetual futures have overtaken Solana (SOL) in trading volume on Kraken for the first time, signaling renewed investor interest as XRP notches record gains.
According to Kraken, XRP perpetual contracts recorded over $3.48 billion in trading volume so far this month, edging out SOL’s $3.23 billion. The surge comes as XRP’s price soared over 40% in July, reaching an all-time high of $3.66. Solana, by contrast, gained 17% over the same period to $181.
“The growth reflects rising confidence in XRP, especially following regulatory clarity from the SEC and a more crypto-friendly political climate,” said Alexia Theodorou, Head of Derivatives at Kraken. “XRP is becoming a key instrument for traders positioning around broader crypto trends.”
Despite the spike in volume, SOL continues to lead in open interest—an indicator of the number of active contracts—on Kraken and globally. Kraken data shows SOL futures hold $55 million in open interest, compared to XRP’s $34 million.
Global open interest in XRP futures stands at $8.53 billion, behind SOL’s $10.69 billion. Bitcoin and Ethereum lead the market with $83 billion and $55 billion in open interest, respectively.
XRP also maintains a strong market cap advantage at $184 billion, nearly double Solana’s $97 billion, reflecting its growing appeal among both retail and institutional investors.
