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XRP’s holder ratio experienced a notable decline from 5% to 2.42% in the first half of 2025, yet it continues to outperform Solana’s 1.76% holder ratio as of May 2025.
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Investor confidence in XRP remains robust, driven by optimism surrounding a potential Ripple spot ETF, which has prompted institutional capital to rotate from Solana to XRP.
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Whale wallets holding XRP reached a 12-year peak in June 2025, signaling increased long-term trust from major investors, according to COINOTAG sources.
XRP’s holder ratio drops but outpaces Solana amid strong investor sentiment and rising whale wallet numbers, fueled by hopes for a Ripple spot ETF in 2025.
XRP Holder Numbers Just Halved — So Why Is It Still Beating Solana?
According to Bybit’s “25H1 Asset Allocation Report,” XRP’s holder ratio showed mixed trends depending on the timeframe analyzed. While the ratio nearly doubled from 1.29% in October 2024 to 2.42% in May 2025, it simultaneously declined from 5% to 2.42% during the first half of 2025. This apparent contradiction underscores the volatility and dynamic nature of crypto asset holdings.
The fluctuations in XRP holder numbers closely mirror price movements, with short-term dips offset by a longer-term upward trajectory. In contrast, Solana’s holder ratio decreased from 2.72% in November 2024 to 1.76% in May 2025, reflecting a broader shift in investor preferences.
Bybit attributes this shift to institutional investors reallocating capital from Solana to XRP, motivated by growing anticipation of a Ripple spot ETF approval. The report states, “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.”
Retail and Institutional Dynamics in Crypto Asset Allocation
Beyond institutional movements, retail investors have also adjusted their portfolios. Data from Bybit reveals a decline in Bitcoin holdings among retail traders between November 2024 and May 2025, while institutional Bitcoin holdings remained relatively stable. This suggests retail traders are increasingly favoring altcoins like XRP, perceived to offer higher growth potential.
The report further notes, “Based on further analysis, it’s likely that retail traders disposed of their Bitcoin holdings in order to purchase altcoins, such as XRP, and are holding more stablecoins than usual.” This behavior highlights a strategic repositioning within the retail segment toward assets with promising catalysts.
Whale Wallets Hit 12-Year High, Indicating Institutional Confidence
Supporting the positive outlook for XRP, COINOTAG recently reported that the number of whale wallets holding XRP surpassed 2,700 in June 2025, marking a 12-year record. This surge in large-scale holdings underscores growing institutional confidence and long-term commitment to XRP.
The increase in whale wallets is a significant indicator of market sentiment, as these investors typically possess deeper insights and influence on price dynamics. Their accumulation suggests expectations of favorable developments, including regulatory clarity and product launches like the anticipated Ripple spot ETF.
Implications for the Crypto Market and Investor Strategies
The evolving landscape of XRP holdings reflects broader trends in the crypto market, where regulatory prospects and product innovation drive capital flows. The rotation from Solana to XRP illustrates how investor sentiment can pivot rapidly based on perceived regulatory advantages and market positioning.
For investors, these dynamics emphasize the importance of monitoring institutional activity and regulatory developments. The sustained interest in XRP from both retail and institutional segments highlights its potential as a strategic asset amid an increasingly competitive altcoin environment.
Conclusion
Despite a halving in holder ratio during early 2025, XRP continues to outperform Solana, buoyed by strong investor sentiment and a record number of whale wallets. The anticipation of a Ripple spot ETF remains a key catalyst driving institutional rotation and retail interest. These factors collectively position XRP as a noteworthy contender in the crypto market, warranting close attention from investors seeking exposure to promising altcoins.
