Doctors in Swansea have confirmed there is no lasting damage, much to the relief of Holley and everyone at the Ospreys.
"Ben's in a bit of pain and obviously we were a bit worried about him. But he seems to have been given a bit more of the all-clear so it's good news," said Holley.
"It looked really frightening at the time and I know he was frightened but… there are no breaks just some bruising and ligament damage. Hopefully he'll be back a lot sooner than we first thought.
"I feel really sorry for him he's worked really hard and is a great lad. To get back and be selected for our first team was fantastic. For that to happen was gut-wrenching. But the news is positive and we should see Ben back in training in seven or eight weeks.
"It's the nature of the game now - we're used to having a long-term injured list. Touch-wood, at the moment the majority of the squad is in reasonable health."
As for the performance in the 38-6 win over Aironi, Holley admitted the reigning Magners League Champions still have plenty to work on ahead of Saturday's derby clash with the Scarlets.
"It was a good result but perhaps the performance wasn't quite there," added Holley.
"We had 70-80 per cent of possession and territory and, although we had five tries, we're a bit disappointed we didn't score more.
"But perhaps it was a good thing because the players realise there is stuff to work on."