XRP Becomes a Top Crypto Holding in Singapore, Report Reveals

•  The Independent Reserve Cryptocurrency Index Singapore 2025 report has revealed that  17% of Singaporean crypto portfolios comprise XRP.
• The index score decreased from 56 in 2024 to 43 in 2025, indicating a more cautious approach to cryptocurrency among Singaporeans.

Ripple’s (XRP) journey began in 2012, when a team of developers, David Schwartz, Jed McCaleb, and Arthur Britto, envisioned a faster, more energy-efficient alternative to Bitcoin. More than a decade later, it looks like they were onto something because Ripple isn’t showing any signs of slowing down, especially in Singapore. According to the latest Independent Reserve Cryptocurrency Index (IRCI) Singapore 2025 report, Ripple’s technology is catching on with more locals.

Now in its fifth year, the report, released in May 2025, shows us how Singaporeans think about and engage with crypto. The survey was conducted by Milieu Insight Market Research and pulled data from 1,500 participants, giving a solid snapshot of current sentiment.

XRP ownership among crypto investors in Singapore has grown to 17%, up from 14% the previous year. While Bitcoin (BTC) remains the leader with 68% ownership, other altcoins are also making headway. Ethereum (ETH) jumped to 48% from 41%, and Solana (SOL) climbed to 19%, up from 17%.

Dogecoin (DOGE) dipped slightly to 18% (down from 19%), with the report noting that much of its popularity is still driven by Elon Musk’s frequent mentions and the buzz around evolving U.S. crypto regulations. Crypto awareness in Singapore is now at a record high of 94%. Still, only 29% of the population owns cryptocurrency, showing there’s room for growth.

IRCI Recognizes Ripple’s RLUSD

The report also shines a light on how Singaporeans are using stablecoins, and it’s clear they prefer to stick with what they know. According to the findings, a massive 83% of stablecoin holders in Singapore prefer USD-pegged stablecoins, with most saying the biggest draw is simple: price stability and a connection to traditional fiat currency.

Stablecoin adoption isn’t just growing, it’s evolving. The IRCI notes that people are now using stablecoins for more practical and sophisticated use cases, including cross-border transfers (17%), DeFi lending and staking (18%), and even derivatives trading (19%).

A breakout example of this trend is RLUSD. The stablecoin was just launched in December 2024, and it has already racked up nearly $300 million in market capitalization and surpassed $10 billion in trading volume.  With these number’s RLUSD may soon surpass Tether (USDT) and USDC.

The IRCI report calls its growth “explosive”, and for good reason; that’s a serious leap in such a short time. But RLUSD isn’t stopping at payments. According to the IRCI, the stablecoin is set to play a much bigger role in the next wave of crypto adoption under Donald Trump’s presidency. Think tokenized real-world assets, simplified on/off ramps, and even supporting global aid distribution. As the report puts it, “The next generation of crypto adoption will be fueled by stablecoin utility that solves real-world problems.”

In June 2020, XRP was priced at 0.20. Five years later, XRP is going for $2.36, with investors now setting their sights on $10. According to our market data, Ripple has only lost $3.1% of its value in the past 24 hours; this slight dip has pushed its market capitalization to $138 billion.

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