XRP Futures Surge Past Solana on Kraken as Price Hits All-Time High

XRP Futures Surge Past Solana on Kraken

For the first time, XRP perpetual futures trading volume on the Kraken exchange has eclipsed that of Solana (SOL), fueled by a significant increase in XRP's price.

Key Highlights

• XRP futures on Kraken saw over $3.48 billion in trading volume this month.
• Solana (SOL) futures recorded $3.23 billion in trading volume.
• XRP's price has soared by more than 40% this month, hitting a record high of $3.66.
• SOL's price only increased by 17% to $181.

Alexia Theodorou, head of derivatives at Kraken, believes this surge is due to growing market confidence after the SEC lawsuit resolution and a more pro-crypto administration.

Despite XRP having a larger market cap, open interest in SOL futures remains higher, indicating increased speculation in SOL.