Based on 39 hedge funds · latest filing: 2026 Q1 · updated quarterly
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Buying streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds added XRPC than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.
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At the ownership peak (100% of max)
100% of all-time peak
39 hedge funds hold XRPC right now — the highest count in 2.5 years. When ownership is this concentrated, any bad news can trigger a chain reaction: one big fund sells, others follow. This is a classic 'crowded trade' — high popularity doesn't equal safety.
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Fast accumulation — +3800% more funds vs a year ago
fund count last 6Q
+38 new funds entered over the past year (+3800% YoY). That's a rapid rush of institutional money. Fast accumulation often signals a major thesis — but it also means the stock could fall quickly if that thesis breaks.
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More buyers than sellers — 61% buying
19 buying12 selling
Last quarter: 19 funds were net buyers (13 opened a brand new position + 6 added to an existing one). Only 12 were sellers (5 trimmed + 7 sold completely). A clear majority buying is a strong confirmation signal.
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Fewer new buyers each quarter (-19 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 0 → 0 → 32 → 13. Each quarter fewer new institutions are entering. This usually means most funds that wanted in are already in — the stock is well-known but the pool of potential new buyers is shrinking.
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Mostly new holders — 95% entered in last year
■ 3% conviction (2yr+)
■ 3% medium
■ 95% new
Only 1 funds (3%) have held >2 years. The majority of current holders are relatively new to the position. New holders tend to sell faster when prices drop — a shallow conviction base that could amplify any sell-off.
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Buying through price weakness — shares +57%, value +15%
Last quarter: funds added +57% more shares while total portfolio value only changed +15%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
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Steady discovery — ~13 new funds/quarter
0 → 0 → 0 → 32 → 13 new funds/Q
New funds entering each quarter: 0 → 0 → 32 → 13. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Early stage — 98% of holders entered in last year
■ 2% veterans
■ 0% 1-2yr
■ 98% new
Of 42 current holders: 41 (98%) entered in the past year, only 1 (2%) are 2+ year veterans. This is an early-phase institutional idea — still being discovered. High upside potential if the thesis plays out, but thin conviction base.
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Elite ownership — 77% AUM from top-100 funds
77% from top-100 AUM funds
4 of 39 holders are among the 100 largest funds by AUM, controlling 77% of total institutional value in XRPC. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
Exit risk score 7.4/10 — multiple crowding signals converge. Institutional ownership is at 100% of its all-time high — near peak crowding. Crowded trades can unwind fast — a single catalyst can trigger a cascade.