Ripple Expands Singapore Services Amid XRP Price Near $2 Support

Ripple has achieved significant regulatory progress in Singapore. The Monetary Authority of Singapore (MAS) granted Ripple's subsidiary, Ripple Markets APAC Pte. Ltd., an expanded scope for its Major Payment Institution (MPI) license.

This expansion allows Ripple to enhance its payment activities within Singapore, a key financial hub.
Singapore is highlighted as a unique player in the global crypto space, with Asia Pacific experiencing a 27% increase in on-chain activity annually.
Ripple Payments enables institutions to access digital tokens like RLUSD and XRP without infrastructure burdens.
The expanded license will strengthen Ripple’s investment and infrastructure capabilities in Singapore.

XRP Price Analysis

XRP is trading near the $2 support zone.
Recent price trends show a 7% drop in the past 24 hours and an 18% decline over the month.
Bollinger Bands indicate low volatility; RSI remains neutral, while MACD shows minimal distance between lines suggesting potential change.
If buyers maintain the $2 support, XRP might rebound; however, a breach could lead to a drop towards $1.5.

The launch of spot XRP ETFs in the US has been positively received, with firms like Grayscale and Franklin Templeton noting significant inflows.