XRP Futures Volume Tops Solana on Kraken for the First Time as Price Hits Record High
For the first time since its listing, XRP perpetual futures have surpassed Solana (SOL) in trading volume on Kraken, reflecting heightened trader interest as XRP stages a strong price breakout.
Kraken reported that XRP perpetual futures have seen over $3.48 billion in trading volume so far this month, exceeding SOL’s $3.23 billion. The U.S.-based exchange launched XRP perpetuals in 2022.
XRP’s surge in volume comes alongside a notable price rally. The token has jumped more than 40% this month to a record high of $3.66, while Solana has gained a comparatively modest 17%, trading around $181, according to CoinDesk data.
“This shift in volume highlights rising optimism around XRP following the SEC lawsuit resolution and recent political tailwinds,” said Alexia Theodorou, Head of Derivatives at Kraken. “With momentum on its side, XRP has become a key trading instrument for those positioning ahead of broader market moves.”
Despite the volume spike, SOL continues to lead XRP in open interest—an indicator of outstanding derivative positions. Kraken’s SOL futures hold around $55 million in open interest, compared to $34 million for XRP, based on data from Coinglass.
On a global scale, XRP’s total open interest reached $8.53 billion, still trailing SOL’s $10.69 billion. Bitcoin and Ethereum remain dominant, with $83 billion and $55 billion in global open interest, respectively.
XRP also holds a commanding lead in market capitalization, valued at approximately $184 billion—nearly double Solana’s $97 billion—signaling sustained investor confidence.
