XRP slips below $1 even as a Korean regional bank adopts Ripple Payments
Jeonbuk Bank will use Ripple’s 24/7 cross-border payment service for business remittances, but it is unknown whether the flows will use XRP or Ripple’s RLUSD stablecoin.
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Summary
- XRP fell below $1 and is the weakest major token over the past day and week, even as Ripple expands its institutional partnerships.
- Ripple’s new deal with South Korea’s Jeonbuk Bank brings near real-time cross-border payments to regional business customers but does not clarify which stablecoin powers the transfers.
- Ripple’s push of its RLUSD stablecoin as the main settlement asset helps explain why growing institutional adoption has not lifted XRP, even as traders maintain heavily long futures positions amid increasingly negative social sentiment.
