Singapore Crypto Market Sees Rising XRP and Stablecoin Adoption Amid Shifting Investor Strategies
Recent reports from Independent Reserve highlight significant shifts in Singapore’s crypto market. Crypto ownership declined from 40% to 29% year-on-year, despite near-universal awareness (94%) and mature market behavior, with half of previous investors cashing out during rallies—67% of whom saw profits. Bitcoin remains the most held asset (68%), followed by Ethereum (48%). XRP adoption has notably increased, rising from 14% to 17%, making it the second-fastest growing altcoin. Ethereum leads altcoin growth, rising from 41% to 48%, while Solana and Dogecoin holdings also increased. Stablecoins are gaining traction; 46% of respondents have held stablecoins, with 21% currently holding and 83% favoring USD-pegged ones. In particular, Ripple’s RLUSD is experiencing rapid growth in the Asia-Pacific region, with a market cap exceeding $310 million in a few months, indicating strong regional demand for compliant stablecoin solutions. Regulatory clarity provided by the Monetary Authority of Singapore, especially regarding single-currency stablecoins, has boosted confidence and may drive further adoption. Over half of current investors plan to increase their holdings, and 17% of non-investors are considering entry. These developments suggest a maturing landscape with disciplined, quality-focused investment strategies, rising interest in altcoins like XRP and stablecoins, and ongoing institutional and retail engagement. For traders, the improving regulatory environment and growing stablecoin adoption could enhance liquidity and market stability for core digital assets.
Bullish
The latest data from Singapore highlights increasing adoption of altcoins like XRP and a marked surge in stablecoin interest, especially with regulatory clarity advancing in the region. While overall crypto ownership has declined, investors are taking more strategic and quality-focused positions, with a large percentage realizing profits from recent rallies. The rise in XRP adoption (from 14% to 17%) and booming market cap for solutions like Ripple’s RLUSD point to strong institutional and retail demand. The influx of stablecoin users (with preference for USD-pegged assets) and intentions from over half of current investors to increase holdings, alongside non-investor interest, suggest robust ongoing market participation. Institutional-friendly regulation and healthier market infrastructure typically bolster liquidity and market depth, particularly for featured assets. For traders, these trends indicate likely sustained interest, improved market confidence, and increased trading volumes for XRP and stablecoins, supporting a bullish sentiment both short and longer term.