XRP Surges Ahead of Solana Despite Massive Drop in Holders — What’s Fueling the Rally?

Jakarta, Pintu News – The first half of 2025 witnessed significant changes in the ownership structure of crypto assets.

One of the most noticeable changes is that the ratio of XRP holders reduced by half. Nevertheless, XRP (XRP) was still able to surpass Solana (SOL) in terms of overall market share.

Despite the declining number of holders, investor sentiment towards XRP remains positive, as reflected in the latest on-chain data in June.

Number of XRP holders halved – but why is it still ahead of Solana?

According to Bybit‘s “25H1 Asset Allocation Report“, the percentage of XRP holders almost doubled from October 2024 to May 2025, rising from 1.29% to 2.42%.

Read also: Ripple Price Prediction: Whale Buys $915 Million Coins, XRP Momentum Ready to Rise Again!

However, if we only look at the period within the first half of 2025(H1 2025), the ratio actually decreases from 5% to 2.42%. These seemingly conflicting figures show that conclusions can differ depending on the time frame used.

The number of XRP holders shows significant volatility, closely following XRP price fluctuations. Therefore, while the long-term trend shows growth, the short-term data could see a sharp decline.

In comparison, Solana’s holding ratio decreased from 2.72% in November 2024 to 1.76% in May 2025. Bybit mentioned that part of this decline was due to investor rotation from SOL to XRP amid growing optimism over the possibility of an XRP spot ETF being approved.

Bitcoin Investors Turn to Altcoins

“The crypto investment industry’s view is that the approval of the Ripple Spot ETF is more likely than the approval of the Solana Spot ETF. Hence, we observe a partial institutional capital allocation from SOL to XRP,” the report reads.

More broadly, retail investors seem to be moving away from Bitcoin and towards altcoins that are perceived to have higher profit potential, especially XRP.

Bybit ‘s analysis shows that between November 2024 and May 2025, Bitcoin (BTC) holdings among retail traders decreased, while Bitcoin holdings by institutions remained stable.

Read also: CBOE Just Filed for a Canary PENGU ETF – Is the SEC About to Approve the Next Big Crypto Fund?

“Based on further analysis, it is likely that retail traders are divesting their Bitcoin holdings to buy altcoins like XRP, and are holding more stablecoins than usual,” the report notes.

Supporting this trend, recently the number of XRP whale wallets surpassed 2,700 in June, marking a 12-year high. This increase reflects the growing confidence of large-scale investors.

These developments suggest that XRP is emerging as a rare case-drawing sustained interest from both the retail and institutional segments.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• BeInCrypto. XRP Holder Ratio Halved in H1 2025. Accessed on June 26, 2025