Ripple Expands in Asia Amid US XRP ETF Boom, Price Drops

Ripple’s global expansion strategy received a substantial boost on December 1st with an approval from the Monetary Authority of Singapore (MAS). The regulator granted an expanded scope of payment activities for the Major Payment Institution (MPI) licence held by Ripple Markets APAC Pte. Ltd. This move allows Ripple to offer a wider array of services to its clientele in the region, cementing Singapore’s position as a critical hub for its operations. Monica Long, President of Ripple, highlighted the significance, stating, “MAS has set a leading standard for regulatory clarity in digital assets… Singapore is proof that innovation thrives when rules are clear.”

This development is part of a concerted push by Ripple into the Asian market, which Fiona Murray, Ripple’s Vice President & Managing Director for Asia Pacific, described as leading “the world in real digital asset usage.” The Singapore license follows closely on the heels of other regulatory wins in the Gulf. Just days prior, Abu Dhabi’s Financial Services Regulatory Authority (FSRA) recognized Ripple’s stablecoin, RLUSD, as an accepted fiat-referenced token. This came after the Dubai Financial Services Authority (DFSA) had already recognized it as a crypto token within the Dubai International Financial Center (DIFC).

Parallel to its regulatory advances abroad, Ripple’s native token, XRP, is experiencing a surge of institutional interest in the United States through the launch of spot Exchange-Traded Funds (ETFs). The trend began in mid-November when Canary Capital launched the first US spot XRP ETF with 100% exposure to the asset. This was quickly followed by similar products from major asset managers including Bitwise, Franklin Templeton, and Grayscale.

The investor response has been emphatic. According to data from SoSoValue, the cumulative total net inflow into these spot XRP ETFs surpassed $666 million in just their first few weeks of existence. The momentum shows no signs of slowing, with 21Shares receiving the necessary regulatory approval to launch its own spot XRP ETF, expected to go live imminently. This rapid succession of launches and the substantial capital inflows underscore a growing institutional appetite for regulated exposure to XRP within the US financial system.

Despite these foundational business and regulatory successes, XRP’s market price has faced significant headwinds. The cryptocurrency did not start December favorably, caught in a broader market correction that led to a major pullback. XRP was among the worst-affected major assets, with its price plunging by over 8% in a 24-hour period, struggling to maintain a position above the critical psychological level of $2.

This volatility has sparked varied analyst commentary. Some, like X user CRYPTOWZRD, pointed to the $2.08 level as a key support zone, suggesting that falling below it—as occurred—indicates market weakness and a need for consolidation before any potential rebound. Conversely, other market observers remain optimistic about the long-term trajectory. Analysts such as Crypto Currency on X have drawn parallels to XRP’s historical price patterns from 2017, speculating that the current consolidation could precede a significant price appreciation in the future, independent of short-term corrections.