The number of XRP holders almost doubled between October 2024 and May 2025, from 1.29% to 2.42%, while Solana (soil) knew the opposite, by lowering 35% of 2.72% to 1.76%.
According to the bybit “H1 2025 Asset allocation report», Rebalancing stems from a change of feeling, because retail and institutional investors have started to promote XRP on Solana.
XRP has grown in recent months, because its legal battle for one year with the dry is coming to an end, preparing the way for a potential exchange fund linked to the Ripple token.
The change of feeling propelled XRP to the third cryptocurrency by market capitalization after Bitcoin (BTC) and Ethereum (ETH). He exceeded Solana in November 2024.
In January, XRP allowances recorded the largest percentage of the period, which represents 5% of the total. The same month, the token affected $ 3.31, its highest price since the summit of all time recorded on January 7, 2018.
ETF expectations have led the pivot
The report has linked the Allowance Swing to the Stock Exchange (ETF) Fund, noting that polymarket traders attribute a probability of approval of 90% by the end of 2025.
He added that the redirection of exposure to the ground to XRP was not a decision made only by retail investors, because the institutions also made the same decision in the first half.
The study covered active merchants between October 2024 and May 2025. The active traders were those who executed at least 20 transactions per month.
In addition, the report ranked participants in institutional, VIP and general retail levels to follow the behavior of the portfolio through market segments.
Bitcoin and Ethereum always reign
Stablecoin allowances also decreased in May because users allocated a new capital to Bitcoin and Ethereum. However, XRP has maintained its extended share.
The report pointed out that Bitcoin controlled almost 31% of assets, while BTC and ETH combined reached 58.8% of non-stable assets in the same month.
The advancement of XRP, associated with the retirement of Solana, caps a period during which the altcoins gave overall the land to Bitcoin. Altcoin Share peaked at 35.22% in November 2024 before being called 23.46% in May 2025, the same month that Bitcoin recorded its last summit of all time.
Finally, the traders withdrew the stable sales from the sidelines and redeployed them in BTC and ETH in May.
The institutional accounts have reduced their stable share by 14% compared to April, towards around 6% each with Bitcoin and ether and one point to Solana, with smaller flows completing the rest.
This movement reversed the defensive accumulation which followed previous market reductions.
