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The fig of XRP holders has astir doubled betwixt October 2024 and May 2025, expanding from 1.29% to 2.42%, portion Solana (SOL) experienced the opposite, falling 35% from 2.72% to 1.76%.
According to Bybit’s “H1 2025 plus allocation report,” the rebalancing stems from a displacement successful sentiment arsenic some retail and organization investors person begun to favour XRP implicit Solana.
XRP has gained momentum successful caller months arsenic its years-long ineligible conflict with the SEC comes to a close, mounting the signifier for a imaginable spot exchange-traded money tied to Ripple’s token.
The sentiment displacement has propelled XRP to the third-largest cryptocurrency by marketplace headdress aft Bitcoin (BTC) and Ethereum (ETH). It overtook Solana successful November 2024.
In January, XRP allocations registered the largest percent of the period, representing 5% of the total. In the aforesaid month, the token touched $3.31, its highest terms since the all-time precocious registered connected January 7, 2018.
ETF expectations drove the pivot
The study linked the allocation plaything to exchange-traded money (ETF) expectations, noting that Polymarket traders delegate a 90% probability of support by year-end 2025.
It added that the redirection of SOL vulnerability to XRP was not a determination made lone by retail investors, arsenic institutions besides made the aforesaid determination during the archetypal fractional of the year.
The survey covered progressive traders betwixt October 2024 and May 2025. Active traders were those who executed astatine slightest 20 transactions per month.
Additionally, the study classified participants into institutional, VIP, and wide retail tiers to way wallet behaviour crossed marketplace segments.
Bitcoin and Ethereum inactive reign
Stablecoin allocations besides declined successful May, arsenic users allocated caller superior to Bitcoin and Ethereum. Yet, XRP maintained its expanded share.
The study highlighted that Bitcoin controlled astir 31% of assets, portion BTC and ETH combined reached 58.8% of non-stablecoin holdings during the aforesaid month.
XRP’s advancement, coupled with Solana’s retreat, caps a play successful which altcoins wide ceded crushed to Bitcoin. Altcoin stock peaked astatine 35.22% successful November 2024 earlier easing to 23.46% successful May 2025, the aforesaid period that Bitcoin registered its latest all-time high.
Lastly, traders pulled stablecoin balances disconnected the sidelines and redeployed them into BTC and ETH successful May.
Institutional accounts chopped their stablecoin stock by 14% from April, steering astir 6% each to Bitcoin and Ether and 1 constituent to Solana, with smaller flows rounding retired the remainder.
This question reversed the antiaircraft build-up that followed earlier marketplace dips.
The station Number of XRP holders astir doubled wrong six months, overtaking Solana appeared archetypal connected CryptoSlate.
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