Ripple Wins Singapore Approval as XRP Whales Drive Market Shift
Ripple expanded its Major Payment Institution license in Singapore while XRP whale activity signals underlying institutional accumulation.Summary
Ripple's subsidiary, Ripple Markets APAC Pte. Ltd., secured an expanded scope of payment activities under its Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). Ripple executives praised MAS for setting a leading standard in digital asset regulation, noting this approval will allow the company to broaden its regulated payment offerings and continue investing in Singapore to build efficient cross-border infrastructure.
This regulatory success follows recent progress in the UAE, where Abu Dhabi's FSRA greenlisted Ripple's stablecoin, RLUSD, classifying it as an Accepted Fiat-Referenced Token. Despite these positive developments and a recent 7% dip in XRP's price, on-chain data indicates that institutional-scale traders, or 'whales,' have been consistently leading XRP activity with large orders, suggesting accumulation despite short-term market softness.
The combined regulatory momentum in key Asian hubs positions Ripple for deeper institutional adoption, with investors watching if this licensed expansion and RLUSD utility will drive future price momentum for XRP.
(Source：BeInCrypto)