New statistics published by the Bitso Crypto platform shows that XRP is gaining traction as a payment option with Latin American consumers. XRP currently makes 9% of all purchases on the platform and wins at much older crypto options such as Ethereum and Solana. This marks a huge turnaround of 2023 when the token hardly registered in an average customer portfolio in Latin America.
Mexican users drive the XRP introduction in the entire region
The interest in XRP among the Latin American nations was powered by Mexican cryptocurrency traders. In Bitso’s report, Mexican users used 10% of all cryptocurrency purchase activities to deal with XRP. This pattern occurred when the overall activity of the platform slowed down, but the purchase of XRP increased significantly compared to other cryptocurrencies.
The Mexican popularity of XRP is remarkable because Bitsso has processed significant amounts of cross -border payments there. According to her reported volumes, Ripple processed via her channel with Bitso in 2022 from the United States to Mexico.
Source: Bitso
The portfolio composition reflects the drastic increase in the XRP stocks
In such a context, Bitsso’s report produces the most impressive discovery: the pace at which XRP came to the portfolios of Latin American cryptos. From 2023, XRP was not available in the typical portfolio composition of Latin American Bitso customers. In 2024, this number rose to 13%, which was due to a seismic change in local investment patterns.
Source: Bitso
This quick acceptance means that users of users in the region now contain an important XRP component, although the token is not registered in portfolio statistics a year earlier. The change signals that confidence in the XRP is growing among Latin American cryptocurrency investors.
Bitcoin and stable coins are still dominated by commercial activity
Although XRP showed impressive growth, Bitcoin and stable coins are still the leading options among Latin American crypto users. Based on the BTSO report, Bitcoin made 22% of total purchases on the platform in 2024, which would decrease by almost 30% in the first year of the year.
Stablecoins led all cryptocurrency categories, with almost 40% of the purchases that were attributed to this cryptocurrencies, which were attributed to this. Stablecoin appeal is likely to be attributed to their application as a local currency inflation protection and an entry point for other cryptoinvestitations.
Political changes and price performance increase interest
The price increase of XRP in 2024 – the best since 2021 – has probably also contributed to the fact that it was so popular. The majority of the rally occurred in accordance with the report in the fourth quarter of the year.
The hope of XRP seems to be associated with political events. The report indicates that Donald Trump’s gain from the President and the resignation of SEC, Gary Gensler, sparked a new interest in XRP. These triggered the expectations of a possible regulatory clarity that XRP and his parent company Ripple could prefer, which was exposed to legal battles with the US supervisory authorities.
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