XRP surpassed Solana (SOL) in futures trading volume on the Kraken exchange in July 2025, marking the first time this has happened in history. Specifically, XRP reached $3.48 billion, while Solana recorded $3.23 billion. This event demonstrates the growing interest of investors in XRP after a long period of being hampered by legal issues ¹.
Some key factors leading to this event:
- Ripple and SEC lawsuit outcome: Ripple gains an advantage in the lawsuit with the U.S. Securities and Exchange Commission (SEC), instilling confidence in investors.
- Policy change in the U.S.: The new administration in the U.S. is expected to be more friendly towards cryptocurrencies, boosting market confidence.
- XRP price growth: XRP's price increased by over 40% in the past month, far exceeding Solana's 17% rise during the same period.
Although XRP temporarily led in trading volume on Kraken, Solana still maintains an advantage globally with a total open interest of $10.69 billion, while XRP stands at $8.53 billion ¹.