XRP News Today: XRP's 6.5% Drop Defies Singapore Expansion Amid Crypto Market Correction

XRP fell 6.5% in 24 hours to $2.04 as of Dec. 1, 2025, despite Ripple securing expanded regulatory approval in Singapore. The token's price decline came amid a broader crypto market correction, with total market capitalization dropping 5% to $3.02 trillion, as Bitcoin traded near $86,000. Ripple's Singapore subsidiary, Ripple Markets APAC Pte., received approval from the Monetary Authority of Singapore (MAS) to broaden its payment services, enabling cross-border transactions using XRP and its RLUSD stablecoin according to market reports. The expansion, described by Ripple President Monica Long as a step to "build the infrastructure financial institutions need to move money efficiently," aims to leverage Singapore's position as a crypto innovation hub according to official statements.

The price action reflects a bearish trend, with XRP breaching key support levels and trading below both 50-day and 200-day simple moving averages. Technical indicators, including the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD), suggest sustained selling pressure. The token now tests the $2.00 psychological level, with further declines potentially targeting $1.90 or $1.818. Analysts note that the falling wedge pattern and lack of buyers at resistance levels like $2.25 indicate a high probability of continued downward movement.

Ripple's regulatory progress in Singapore contrasts with macroeconomic headwinds. The company highlighted Singapore's role in driving 70% year-over-year growth in on-chain activity across the Asia-Pacific region. However, thin liquidity and global macro uncertainty, including China's anti-crypto stance and Fed rate speculation, have exacerbated selling. Traders reported $638 million in liquidations on Dec. 1, with long positions accounting for 90% of losses.

The approval aligns with Ripple's strategy to expand its cross-border payment solutions, combining digital tokens with a global payout network. Fiona Murray, Ripple's Asia-Pacific managing director, emphasized the approval as a tool to "bring faster, more efficient payments" to institutions. Meanwhile, the launch of spot XRP ETFs by firms like Canary Capital and 21Shares is expected to provide liquidity, though their impact remains untested in the current bearish environment according to market analysis.

Market participants remain divided on XRP's near-term prospects. While bulls point to a potential rebound if the $2.00 level holds, bears argue that the death cross formation and weak volume suggest a deeper correction. "The Asia-Pacific region leads in digital asset adoption, but regulatory clarity alone won't reverse macro trends," said one analyst. With trading volume surging 92% to $3.92 billion, positioning appears mixed, reflecting uncertainty about the token's ability to recover amid broader market volatility.