Analyst Levi Rietveld contends that declining public attention—rather than shrinking holder counts—may be the more significant indicator for XRP, XLM, and the wider digital-asset market. According to a YouTube video presentation, crypto search interest has fallen 72 points from its peak, even as U.S. crypto ownership and wallet activity reportedly continue to climb.

Rietveld's central thesis is contrarian in nature: investors typically pursue assets only after those assets have already garnered peak attention. He points to heightened interest in AI stocks, semiconductor manufacturers, space companies, and broader equities, while crypto remains in what the host characterizes as a bear-market cycle. The dynamic reflects a broader pattern behavioral finance researchers have documented across asset classes: retail participation tends to surge near price tops, while periods of muted interest often coincide with lower entry points.

Low Search Activity as a Potential Accumulation Signal

Rietveld references a chart comparing Bitcoin prices with online search interest, noting that the two have historically peaked in close proximity to one another. Bitcoin's 2021 price high aligned with a search-interest peak, while periods such as 2018, 2022, and what the speaker identifies as 2026 exhibited declining prices alongside reduced search activity.

Crypto search interest reportedly reached a score of 100 in August 2025, near the market's previous highs, before declining sharply. Rietveld's perspective is that extremely elevated search interest can signal overheated retail participation, whereas subdued attention may present a more favorable environment for accumulation—though he presents this as a personal analytical framework rather than financial advice.

This reasoning extends beyond digital assets. The host suggests that investors should track public interest in gold, silver, oil, and high-profile equities, particularly as those markets approach record valuations and widespread retail attention.

More Holders, Less Capital

Despite the bearish price environment, the YouTube episode reports that active crypto users increased 7% year over year, with the number of new U.S. holders growing by 12 million. Bitcoin ETP holdings reportedly remain within 8% of their all-time high. The sustained institutional footprint in ETPs contrasts with reduced retail engagement, a divergence that has been observed across multiple crypto market cycles.

This distinction carries particular relevance for XRP holders, according to the commentator. While more individuals may be holding or entering the crypto space, they may not be allocating larger sums, as capital is currently flowing toward equities and AI-related trading opportunities.

Rietveld argues that XRP's market capitalization remains below its prior peak primarily because some existing holders liquidated positions, even as new buyers continued to enter the market.

The video advises against selling depressed crypto holdings to pursue strong stock-market momentum, based on the premise that capital could rotate back into digital assets should sentiment shift. This view remains speculative: search data can reflect investor enthusiasm, but it does not determine future price direction or substitute for analysis of liquidity, adoption, and regulatory developments.