OKB, the token of OKX, spiked 30% on Aug. 21 to $220 amid XRP airdrop buzz and surging derivatives activity, even as Bitcoin and Ethereum posted losses. Open interest jumped 119%, signaling strong bullish momentum, though RSI readings above 93 suggest a pullback could follow.
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 $2.09 24h volatility: 0.6% Market cap: $126.75 B Vol. 24h: $1.12 B each.
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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 $110.5 24h volatility: 0.1% Market cap: $2.32 B Vol. 24h: $7.45 M 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.
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