Kraken Sees XRP Futures Volume Surpass Solana as Token Hits New High

XRP Futures Overtake Solana on Kraken as Token Sets New Record

XRP perpetual futures have surpassed Solana (SOL) in trading volume on Kraken for the first time, fueled by XRP’s surging price and renewed investor optimism.

Kraken reported that XRP perpetual futures reached $3.48 billion in volume so far this month, edging out SOL’s $3.23 billion. The uptick follows a sharp rally in XRP, which climbed over 40% in July to an all-time high of $3.66. SOL posted a more modest 17% gain to $181.

“The volume shift reflects growing confidence in XRP following regulatory clarity and political tailwinds,” said Alexia Theodorou, Kraken’s Head of Derivatives. “The asset has quickly become a barometer for broader market sentiment.”

XRP’s strong performance comes after the resolution of its legal battle with the SEC and in the wake of a more crypto-supportive U.S. administration.

Despite the volume spike, Solana still holds the lead in open interest—total outstanding futures contracts—on Kraken and across global exchanges. SOL futures on Kraken totaled $55 million in open interest, compared to $34 million for XRP, according to Coinglass.

Globally, XRP futures open interest stands at $8.53 billion, behind SOL’s $10.69 billion. Bitcoin and Ethereum continue to dominate with $83 billion and $55 billion, respectively.

XRP’s market capitalization currently stands at $184 billion, nearly twice that of Solana’s $97 billion, reflecting broader investor conviction in the asset’s long-term potential.