OKB Emerges Crypto Top Gainer as XRP Airdrop Sparks 400% Trading Volume Spike

Key Notes

• OKB price soared 30% to $220 after a viral XRP airdrop campaign boosted KYC sign-ups and token demand.
• Derivatives activity exploded with $401M in trading volume and $1.21M in short liquidations, indicating a short squeeze.
• Despite bullish momentum, RSI at 93.91 flags overbought conditions, with key support at $180 and resistance near $240.

OKB, the native token of centralized exchange OKX, rose 30% on Thursday, Aug. 21, defying broader market weakness as Bitcoin, Ethereum and Solana booked losses between 1% and 3%, respectively. The rally was linked to increased community engagement around an XRP airdrop campaign that began Tuesday, Aug. 19, rewarding five winners with $2,000 in

XRP
$2.88



24h volatility:
2.7%


Market cap:
$171.04 B



Vol. 24h:
$4.54 B

each.

DROP 2 Unlocked! 🥊💥🪂

5 winners, $2000 in $XRP each!

For a chance to win:

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— OKX (@okx) August 21, 2025

A second airdrop announcement on Thursday drew over 321,000 views on X at press time. The surge in attention translated into heightened demand for OKB, as users rushed to complete KYC accounts and participate in the promotional events, boosting on-chain activity and token demand.

OKB Derivatives Market Analysis, Aug. 21, 2025 | Source: Coinglass

Derivatives market trends also reflected this bullish narrative. According to Coinglass data, OKB trading volumes surged 386% to $401.31 million, while open interest jumped 119% to $20.29 million.

Liquidations totaled $2.04 million, with $1.21 million in shorts wiped out versus $836,630 in longs. The skew toward short liquidations confirms traders were caught off guard by the rally’s strength, while the sustained increase in open interest indicates fresh capital continues to enter OKB markets.

OKB Price Forecast: Bulls Eye $240 as RSI Hits Overbought Extremes

OKB’s parabolic move pushed the token to $220 at press time, now posting gains in excess of 200% in August alone. However, technical indicators highlight certain risk factors ahead as

OKB
$218.5



24h volatility:
25.6%


Market cap:
$4.58 B



Vol. 24h:
$12.76 B

price breaks into overbought territory.

As seen below, the breakout candle on Aug. 21 carried OKB far above its 20-day Bollinger Band midpoint of $83.41, with the upper band now extending to $180.78. With the OKB price already above that threshold, momentum remains firmly in bullish hands. If buyers sustain the rally, the next key resistance lies at $240, a psychological barrier near the recent intraday high.

OKB Price Forecast | Source: TradingView

Despite that, it is important to note the RSI trending at 93.91 signals heavily overbought conditions and an imminent profit-taking phase.

If OKB retraces, initial support is expected near the $180 zone, corresponding to the upper Bollinger Band. A sharper correction could drag the price toward $150, where bulls could find consolidation before attempting another breakout. A failure to hold above $150 could trigger a deeper retracement toward the $120 support zone.

Maxi Doge Gains Attention Amid Cardano Market Slowdown

As OKB price gains approach euphoric levels, traders could begin rotating profits into speculative projects like Maxi Doge. The platform markets itself as a memecoin ecosystem offering derivatives trading features without strict entry requirements.

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Maxi Doge advertises up to 1000x leverage on meme assets, instant withdrawals and trading access without KYC. With ADA traders showing restraint, speculative capital could rotate toward testing meme tokens for larger profit potential.

Visit the Maxi Doge website to explore high-leverage meme trading and get in early on new market narratives.

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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

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Ibrahim Ajibade is a seasoned research analyst with a background in supporting various Web3 startups and financial organizations. He earned his undergraduate degree in Economics and is currently studying for a Master’s in Blockchain and Distributed Ledger Technologies at the University of Malta.

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