In a region where economic uncertainty often pushes people to look for alternative financial tools, one unexpected crypto token is suddenly standing out.
While Bitcoin and stablecoins usually dominate headlines and portfolios in Latin America, XRP is now quietly carving out a surprising piece of the action.
According to new data from popular crypto exchange Bitso, XRP has seen a massive jump in popularity, especially among users in Mexico.
And it’s not just a flash in the pan—it’s a real trend that’s changing how investors across the region are thinking about digital assets.
Mexican Traders Are Driving the XRP Craze
The surge in XRP adoption has been especially noticeable in Mexico.
In fact, Bitso’s recent report shows that Mexican users are putting around 10% of their crypto purchases into XRP—that’s a pretty big deal considering most other tokens are seeing flat or declining activity.
Even as overall trading on Bitso dipped, XRP buying was up.
One of the reasons could be that Mexico plays a major role in cross-border crypto transactions, especially for remittances.
Back in 2022, Ripple and Bitso moved a whopping $3.3 billion in remittance payments from the U.S. into Mexico—so the infrastructure and trust were already in place.
Portfolios That Didn’t Include XRP Last Year Now Do
Just a year ago, you’d be hard-pressed to find XRP in a Latin American crypto investor’s portfolio.
But 2024 has flipped the script. Bitso says that XRP now makes up about 13% of their clients’ portfolio compositions in the region, compared to almost nothing in 2023.
That’s a huge shift—and it’s not just about price performance.
It shows a deeper level of trust and interest in the token that could signal even more growth ahead.
For a coin that was almost invisible in portfolios just a year ago, this is a major leap forward.
Bitcoin and Stablecoins Still Reign, But XRP Is Catching Up
Don’t get it twisted—Bitcoin and stablecoins are still the big dogs in Latin America’s crypto scene.
Bitso reports that Bitcoin currently makes up about 22% of purchases, although that’s down from 30% earlier in the year.
Meanwhile, stablecoins continue to dominate with close to 40% of trading volume, likely because of their role as inflation-resistant assets and safe gateways into crypto.
So, while XRP is making waves, it’s still swimming alongside some much bigger fish.
XRP’s 2024 Rally and Political Shifts Add to the Hype
Let’s not ignore the elephant in the room: price movement matters.
XRP’s value has surged 230% in 2024, marking its strongest performance since 2021.
Most of that rally happened in the fourth quarter, right around the time when Donald Trump was re-elected and SEC Chair Gary Gensler resigned.
Those political shifts seem to have inspired renewed hope that regulatory clarity might finally be on the way—a game-changer for XRP and its parent company Ripple, which has long been in a legal battle with U.S. regulators.
What This Means for the Future of XRP in Latin America
XRP’s sudden rise in the Latin American crypto space is more than just a trend—it could be a turning point.
With growing trust, real-world use cases like remittances, and a portfolio presence that’s expanding fast, XRP is beginning to feel like more than just a speculative token.
Whether it can keep up the momentum in a space still ruled by Bitcoin and stablecoins remains to be seen.
But one thing’s clear: Latin America is watching XRP more closely than ever before—and that attention might just be the fuel it needs to go even further.