XRP’s Holder Ratio Slips in H1 2025—But Still Outshines Solana in Investor Confidence

In the first half of 2025, XRP saw a sharp drop in its holder ratio. It fell from 5% to 2.42%. For many tokens, this would signal trouble. But XRP is no ordinary token. Despite the fall, it still beats Solana’s holder ratio, which sits at just 1.76% as of May 2025.

On the surface, fewer holders might look like bad news. But a closer look reveals a different story. The token is showing signs of resilience and growing institutional trust. In fact, XRP’s strongest holders, whale wallets, just hit a 12-year high in June.

Let’s unpack what’s really going on.

A Deeper Look at the Numbers

XRP’s journey through H1 2025 has been anything but dull. While its holder percentage dropped over the past few months, the broader picture tells a mixed but hopeful story.

According to Bybit’s “25H1 Asset Allocation Report,” XRP holder growth from late 2024 into early 2025 was impressive. Between October 2024 and May 2025, the share of XRP holders nearly doubled, rising from 1.29% to 2.42%.

But when you isolate just H1 2025, you see a decline from 5% to 2.42%. This sharp drop looks worrying at first glance. However, context is everything. These swings appear closely linked to market volatility and XRP’s price action during the same period.

Solana didn’t fare better. SOL’s holder ratio slid from 2.72% in November 2024 to 1.76% in May 2025. This decline puts XRP ahead, even at its lowest point during H1.

Investor Sentiment Is Still Strong

So why are investors still confident in XRP? ETF. Institutional players are shifting gears in favour of Ripple. The crypto industry believes that an XRP spot ETF will be approved before a Solana ETF ever sees the light of day. And institutions are not waiting around. They’ve begun rotating funds from SOL into XRP.

Bybit’s report confirms this move. “We’ve observed partial capital allocation on the part of institutions from SOL to XRP,” it states. This rotation is a big deal. It signals that investors are preparing for long-term growth, not just quick profits.

And it’s not just institutions taking notice, retail traders are in the mix too. Many have pulled out of Bitcoin and turned toward altcoins like XRP. These smaller tokens offer more upside in today’s shifting crypto landscape.

XRP Whale Wallets Hit a 12-Year High

Here’s another strong sign of confidence of whale activity. As of June 2025, there are now over 2,700 XRP whale wallets in existence. That’s the highest number in more than a decade. Whale wallets usually belong to individuals or institutions holding large amounts of tokens. When this number grows, it shows deep, long-term faith in the asset.

Whales don’t gamble. They position themselves based on expected returns over time. Their growing interest suggests that XRP is quietly building a stronger foundation than many assume.

Retail vs Institutional: A Changing Landscape

The split between retail and institutional investors is becoming more visible.

Retail traders are stepping back from Bitcoin. Between November 2024 and May 2025, BTC holdings declined, but they’re not exiting the market entirely. Instead, they’re pivoting toward tokens like XRP. At the same time, they’re holding more stablecoins, waiting for the right entry point or diversifying their risk.

Institutional investors, meanwhile, have kept their Bitcoin positions steady. But they’ve started to explore altcoins with real utility. XRP, with its long-standing ties to payment infrastructure and growing regulatory clarity, has become a preferred bet.

This shift is strategic. Institutions value predictability. XRP’s legal status in the U.S. is clearer than that of many other altcoins. That clarity is paying off.

Why Holder Ratio Alone Doesn’t Tell the Full Story

Yes, XRP’s holder ratio dropped, but interpreting that in isolation misses the point. Holders are just one part of the story. The type of holders matters even more. XRP might have fewer total wallets now, but the wallets that remain are bigger and more committed. That’s a win, not a loss.

It also reflects a broader maturing of the market. Retail investors are consolidating because they’re more selective. Meanwhile, institutions are finally joining the conversation. XRP is evolving from a widely held, speculative token to one backed by strategic capital.

Solana Still Holds Value — But Faces Headwinds

This isn’t to say that Solana is out of the picture. It remains a major player in blockchain infrastructure, gaming, and DeFi. But it’s in a different position.

SOL faces more regulatory uncertainty than XRP, and recent downtime issues haven’t helped its image among cautious investors. The ETF discussion only widens the gap, at least for now. Until Solana clears these hurdles, some investors may view XRP as a safer bet with higher upside.

What Comes Next for XRP?

If a Ripple spot ETF gets approved, the market could see a sharp wave of capital inflows. This would likely push XRP’s price higher and increase both its trading volume and visibility among new investors.

More institutions might follow, pushing up the number of whale wallets even further. Retail could re-enter as well. With increased momentum, even those who trimmed their holdings in H1 2025 may come back.

A sustained price rally could also lift the holder ratio again. But whether that happens or not, XRP’s core appeal, which includes strong backing, institutional support, and legal clarity, gives it an edge over many competitors.

Final Thoughts

XRP’s drop in holder ratio isn’t a red flag. It’s a reset.

The token is transitioning. It’s moving from a community-driven coin to one where major players now hold the steering wheel. With a Ripple ETF likely on the horizon, and with whales continuing to buy in, XRP is shaping up to be one of the most intriguing altcoin stories of 2025.

Solana may be the flashier name at times. But XRP is playing the long game, and for now, it’s winning.