XRP Dips To $0.98 Amid Ripple-Jeonbuk Bank Of Korea Partnership Deal Ripple’s native cryptocurrency, XRP, experienced a decline, dropping 1.11% to $0.98972, underperforming Bitcoin’s 1.11% rise during the same period. The price slump is attributed to a technical rejection at the critical $1 support level, coupled with persistent bearish sentiment and heightened selling pressure in derivatives markets. XRP has tested the $1 level for eight consecutive sessions, with a 42.46% surge in trading volume to $937.72 million over 24 hours, reinforcing the selling pressure at this key round-number support. Technical indicators show weakness, as the price trades below all major moving averages and has entered an oversold region across key signals. The market’s inability to hold the $1 level, a significant psychological and technical floor, raises concerns. A daily close below $0.98 could trigger further stop-losses and liquidations, deepening the downtrend. Binance’s perpetual cumulative volume delta (CVD) has worsened, dropping from -$251 million to -$349.5 million, signaling persistent selling. Social sentiment indicators, such as Santiment data, reveal a three-month bearish extreme, despite increased on-chain activity. Leveraged traders remain heavily bearish, and crowd pessimism has created a fragile environment for price recovery. The immediate focus is on defending the $1 level, with key resistance at the shallow Fibonacci retracement at $1.0281. If XRP fails to reclaim this level, the next major support is projected at $0.9061. The Fear & Greed Index remains neutral at 40, offering no strong directional signal. The overall trend is bearish below $1.0281, with a high risk of a deeper correction. Investors are closely monitoring price action around $1.0281 resistance and $0.98 support in the next 24-48 hours.#south_korea #xrp #ripple #ripple_payments #jeonbuk_bank
Ripple and Jeonbuk Bank Partner to Modernize Cross-border Payments in Korea SEOUL, KOREA, 18 August 2026 – Ripple, a company specializing in blockchain-based financial solutions, has partnered with Jeonbuk Bank to introduce advanced cross-border payment systems for businesses in South Korea. This collaboration marks the first time a regional bank in the country has adopted Ripple’s payment technology, enabling near real-time settlement of international transactions. Previously, such transfers relied on the SWIFT network, which often took days to process. Ripple’s system, however, completes transactions in seconds to minutes and operates around the clock, offering faster, more transparent, and cost-effective remittance services to Jeonbuk Bank’s clients, including import-export firms, tech startups, and online content creators. Fiona Murray, Ripple’s Managing Director for Asia Pacific, highlighted the significance of the partnership. She noted that Jeonbuk Bank’s adoption of Ripple Payments reflects the growing interest among South Korea’s financial institutions in digital asset capabilities. By integrating Ripple’s technology, the bank is enhancing its role in supporting the real economy and contributing to the broader evolution of Korea’s financial ecosystem. Park Choon-won, President of Jeonbuk Bank, emphasized the strategic importance of the partnership. He stated that the collaboration positions the bank to transition from a regional institution to a leader in digital finance, aligning with global standards. The partnership is expected to serve as a growth driver for the bank, fostering innovation that redefines financial practices beyond mere technological adoption. This announcement follows Ripple’s recent collaborations with other major South Korean financial entities.#south_korea #ripple #jeonbuk_bank #fiona_murray #park_choon_won
