Singaporeans are increasingly buying altcoins like XRP as the asset’s adoption spreads across the nation and other APAC countries.
This data came from a recent report from Independent Reserve, Australia’s oldest and largest cryptocurrency exchange. The 2025 edition of its annual crypto index (IRC) Singapore exposition shows that XRP’s dominance is on the rise.
The survey, conducted by Milieu Insight Market Research and mentioned in a tweet by SMQKE, drew data from 1,500 Singaporeans, attempting to aggregate the broader perception of the nation’s residents towards cryptocurrencies. This year’s report shows that XRP is becoming a household name among the nation’s growing crypto enthusiasts.
Crypto Aware Singapore Buying XRP
According to the report, everyday Singaporeans’ crypto awareness is at an all-time high of 94%, with almost all respondents acknowledging they are familiar with at least one digital asset.
Bitcoin, the largest cryptocurrency by market cap, was the most popular cryptocurrency in the APAC region, with 91% of respondents noting that they know the coin. The premier asset also makes up 68% of the portfolio of Singaporean crypto investors.
Nonetheless, susceptibility towards alternative asset allocation has also increased in the past year, with assets like XRP leading the charge. The token saw the second-highest percentage increase in portfolio ownership among altcoins, reflecting growing adoption.
For perspective, 17% of Singaporean crypto portfolios comprise XRP, up 3% from 14% last year. Only Ethereum’s allocation growth from 41% to 48% trumped XRP’s, with Solana (17% to 19%) and Dogecoin (18% to 19%) recording lower growth. Despite this slower growth, the portfolios of crypto-holding Singaporeans comprise more of the aforementioned coins than XRP.
Excerpt from IRCI Singapore Report
Remarkably, a recent report identified a similar increased portfolio allocation to XRP. Research from Bitso shows that Latin American crypto investors bought more XRP than Ethereum and Solana in 2024.
Meanwhile, Singaporeans invest a considerable amount in crypto monthly. About 57% of the respondents invest below $500 per month, 29% invest above $500 but below $1,000, while just 10% DCA into choice cryptocurrencies with over $1,000 monthly.
RLUSD in View as Stablecoin Appetite Grows
About 46% of respondents disclosed they own or have previously owned stablecoins. Of this figure, 21% currently hold stablecoins, while 25% used to hold them.
Furthermore, 83% of holders prefer USD-pegged stablecoins. This confirms the American dollar’s dominance, a stance that the White House AI and crypto czar, David Sacks, says the United States intends to sustain with the stablecoin regulatory framework push.
Meanwhile, Ripple’s APAC managing director, Fiona Murray, highlighted this preference in the report and how the Ripple USD (RLUSD) stablecoin is a game changer. She further emphasized the transitioning of stablecoin beyond a trading tool to an asset for complex blockchain utility, such as in cross-border payment and DeFi.
With this vision, Ripple ventured into launching and deploying the RLUSD stablecoin in its payment business. So far, the asset has surpassed a market cap of $310 million in a few months, a testament to its instant market adoption.
The Ripple manager emphasized that RLUSD will power more than payment; it will fuel the next generation of crypto adoption. With a projection that the sector will reach $1 trillion by the end of 2025, RLUSD has more market share to attract.
