Singapore’s Crypto Crowd Embraces XRP: Altcoin Adoption Soars

Singapore’s crypto scene is evolving, with investors increasingly turning their attention to altcoins, particularly XRP. Despite Bitcoin’s continued dominance, the recent surge in XRP holdings suggests a growing trust in its payment-focused design and potential.

According to the 2025 Independent Reserve Crypto Index for Singapore, 94% of locals are familiar with at least one cryptocurrency, highlighting the maturing trading landscape. While Bitcoin remains the top holding at 68% of average investor portfolios, XRP has made significant strides, now representing 17% of crypto holdings, up from 14% last year.

XRP’s Rise Amidst Altcoin Growth

Reports from Milieu Insight Market Research show that XRP experienced one of the strongest gains among altcoins, outpacing even Ethereum, which grew from 41% to 48%. Solana also saw an increase, climbing from 17% to 19%, while Dogecoin remained relatively stable at 19%. This surge in XRP ownership indicates a growing preference for its practical applications in the payments space.

Interestingly, while many Singaporean investors are enthusiastic about crypto, most approach it as a side investment rather than a full-time commitment. Around 57% invest less than $500 per month, with another 29% contributing between $500 and $1,000. Only 10% dedicate more than $1,000 monthly to dollar-cost averaging.

Stablecoins and the Emergence of RLUSD

Stablecoins also play a role in the Singaporean crypto landscape. Approximately 46% of respondents reported owning or having owned these US-dollar pegged assets, with 21% currently holding them. Eighty-three percent of those who own stablecoins prefer US-dollar pegged coins. This preference aligns with the recent launch of Ripple’s RLUSD, which has already reached a $310 million market cap in just a few months. Ripple’s APAC managing director, Fiona Murray, emphasizes that RLUSD is not just for trading but also for cross-border payments and decentralized finance (DeFi) applications.

The growing popularity of XRP in Singapore echoes trends seen in other regions like Latin America, where Bitso reported that XRP was favored over Ethereum and Solana in 2024. As XRP adoption continues to rise, it is poised to become a more integral part of both retail and institutional investment strategies.

While Bitcoin’s dominance in the crypto market remains strong, the increasing allocation towards altcoins, particularly XRP, signifies a shift in investor sentiment and a growing recognition of the diverse opportunities within the crypto ecosystem.