- Despite sustained growth, the XRP ownership ratio falls from 5% to 2.42% in H1
- As investors shift their focus, the Solana holding ratio drops to 1.76%.
- Retail traders shift from Bitcoin to altcoins seeking higher upside potential
Cryptocurrency holding patterns have shifted dramatically during the first half of 2025, with XRP experiencing a substantial decline in holder ratios while maintaining superior market share compared to Solana.
According to Bybit’s “25H1 Asset Allocation Report,” XRP’s holder percentage fell from 5% to 2.42% within the first half of 2025, creating apparent contradictions when viewed against longer-term trends.
The drop in the holder ratio stands in stark contrast to XRP’s success over longer periods of time, as the proportion almost doubled from 1.29% in October 2024 to 2.42% by May 2025. These divergent statistics illustrate how analytical conclusions can vary substantially depending on the observation period selected for evaluation.
Investor Rotation Favors XRP Over Solana Amid ETF Speculation
XRP holder numbers have tracked price volatility closely, creating sharp fluctuations that may not accurately reflect underlying investor sentiment or long-term adoption trends. While short-term figures show decline, the broader trajectory suggests continued growth in XRP ownership among cryptocurrency investors.
Solana has faced more consistent pressure, with its holder ratio declining from 2.72% in November 2024 to 1.76% by May 2025. Bybit ascribed this decline in part to investor shift from SOL to XRP because to confidence about the possibility of XRP spot ETF approval.
The exchange noted institutional preference for XRP based on regulatory clarity expectations. “The crypto investing industry view is that Ripple Spot ETF approval is likely ahead of such approval for a Solana Spot ETF. As such, we’ve observed partial capital allocation on the part of institutions from SOL to XRP,” the report stated.
This rotation pattern suggests institutional investors are positioning for regulatory developments that could provide XRP with advantages over competing altcoins. The anticipation of ETF approval has created speculative premium for XRP relative to assets with less clear regulatory pathways.
Retail investor behavior has also evolved throughout the period, with traders moving away from Bitcoin toward altcoins offering perceived higher upside potential. XRP has captured significant attention within this rotation as investors seek alternatives to the largest cryptocurrency.
Institutional Bitcoin holdings stayed constant between November 2024 and May 2025, but retail traders’ holdings decreased. This divergence indicates different investment strategies between retail and institutional participants, with retail favoring more speculative positioning.
The holder ratio volatility in markets reflects broader uncertainty about cryptocurrency valuations and regulatory outcomes. While short-term metrics show decline, the asset’s ability to maintain market share advantages over Solana suggests underlying strength in its competitive position.
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