XRP is “a winner amongst altcoins” in response to a brand new report — with institutional and retail buyers “turning bullish” in direction of the world’s fourth-largest cryptocurrency.
Bybit says the variety of customers holding this altcoin on its trade doubled between November and Could as costs surged.
Over this era, costs accelerated from $0.50 to $2.19 — a staggering 338% improve — as tensions between the SEC and XRP’s issuer Ripple died down.
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One other key second got here when Donald Trump declared this token would kind a part of a U.S. crypto reserve, however these plans didn’t find yourself materializing.
And if that isn’t sufficient, Polymarket suggests there’s an 85% probability of an XRP ETF being accredited a while this yr, which might probably result in billions of {dollars} of shopping for stress as funds movement into Wall Road merchandise.
Bloomberg analyst James Seyffart just lately argued the chances are even higher than this — placing the percentages at 95%.
NEW: @EricBalchunas & I are elevating our odds for the overwhelming majority of the spot crypto ETF filings to 90% or greater. Engagement from the SEC is a really constructive register our opinion pic.twitter.com/5dh8G8rK6Y
— James Seyffart (@JSeyff) June 20, 2025
Within the report — Bybit famous that the holding share of XRP jumped from 1.29% to 2.42% in simply six months, including:
“The crypto investing business view is that Ripple spot ETF approval is probably going forward of such approval for a Solana spot ETF. As such, weʼve noticed partial capital allocation on the a part of establishments from SOL to XRP.”
Nonetheless, Bybit famous that BTC stays the most well-liked digital asset for crypto buyers by a rustic mile — and among the many trade’s customers, 30.95% of property are allotted into the world’s greatest cryptocurrency.
Different key developments embrace a considerable surge in demand for Ether. A low holding share of three.89% was recorded in April 2025, however that had greater than doubled to eight.43% only one month later. Nonetheless, the report’s authors famous that this stays effectively beneath a peak of 11.12% seen final November.
And right here’s one other key headline: enthusiasm for Solana has fallen dramatically, with SOL’s share plummeting by 35% in simply six months. That is undoubtedly linked to an enormous bubble bursting within the meme coin market.
The Bybit report — which covers the interval when the buying and selling platform fell sufferer to an audacious $1.5 billion assault by the hands of North Korean hackers — stated:
“BTC and ETH focus began at 55.2% in October 2024, fell to a low of 48.2% in February 2025 and has newly recovered to 58.8% as of Could 2025. Regardless of the weak demand for ETH in Q1 2025, BTC and ETH focus continued to develop in the identical interval, pointing to a resilient demand for Bitcoin from buyers, regardless of market volatility.”
One statistic places Bitcoin’s recognition into sharp context: for each $1 in ETH that an investor holds on Bybit, they’re more likely to have $4 of BTC of their pockets. This marries up properly with CoinMarketCap information that exhibits Bitcoin’s dominance has grown from 53.2% to 64% over the previous 12 months, with Ether’s market share halving from 18% to 9% in the identical timeframe.
There are additionally indicators of a transparent divide between the methods deployed by on a regular basis customers {and professional} buyers.
“As of Could 2025, retail merchants proceed to carry considerably much less Bitcoin and Ether than establishments, with BTC and ETH holding share standing at 11.64% and 6.8%, respectively. Retail tradersʼ holdings in Bitcoin and Ether are round half that of establishments all through this era.”
This maybe isn’t shocking. Retail buyers are likelier to be extra adventurous with their publicity to altcoins, however strict rules imply establishments are restricted with regards to what they’ll put money into. One other potential narrative is that this: sensible cash is embracing Bitcoin, however the public is but to note.
What’s extra, there are statistics to help the notion that the standard “altseason” has been cancelled — or no less than delayed. The holding share of smaller cryptocurrencies crumbled from 35.2% in November to 23.5% in Could, “however meme cash, Layer 1s and DeFi tokens have held up higher than different classes.” The identical couldn’t be stated for AI tokens and Bitcoin Layer 2s, in addition to the GameFi and NFT sectors.
“When the broader market reaches a brand new excessive (because it did in November 2024, it normally factors to the arrival of altcoin season. Nonetheless, when Bitcoin reached one other ATH in Could 2025, altcoins didnʼt observe swimsuit, suggesting that the Could bull run hasnʼt led to broader bullish sentiment.”
Bybit’s report neatly encapsulates the principle themes of 2025 to date — and will give us a sign as to what lies forward in the remainder of the yr.
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