$XRP Plummets Below $1 as Ripple Lands Korean Regional Bank Partnership
$XRP has fallen below $1 as Ripple continues to announce partnerships despite the token's decline.
The latest deal is with Jeonbuk Bank, a Korean regional bank that will use Ripple Payments for cross-border transfers. This follows previous deals with Kyobo Life Insurance and Kbank earlier in 2026. The service allows banks to settle transactions in seconds to minutes, around the clock.
Ripple's managing director for Asia Pacific, Fiona Murray, said the deal reflects growing momentum across Korea's institutional financial sector. She noted that regional banks play a vital role in the real economy and are building digital asset capability.
The company has been pushing its $RLUSD token as the settlement asset for institutional work. However, the distinction between this token and others on the XRP Ledger may explain why partnerships have done little to boost the token's price. $XRP traded above $3 at last year's highs and has since drifted toward and now through $1.