XRP (CRYPTO: $XRP) has fallen below its widely-watched $1 U.S. level to $0.98 U.S., its lowest price since November 2024. The slide comes as Ripple, the payments company closely associated with XRP, announced its third Korean partnership of the year, with Jeonbuk Bank. Going forward, Jeonbuk Bank will offer Ripple payments for cross-border transfers.
MEXC July TradFi Trading Shifts Toward AI Storage as SNDK Futures Volume Surges More Than 15x Times Polymarket Hires Former Uber Executive To Lead Growth Initiative Hyperliquid Turns to CFTC for Path Into U.S. Perpetual Futures Market Canadian Defense Tech Firm Jumps 92% as Government Revenue Boosts Margins MEXC's August 2026 Proof of Reserves Confirms User Assets Fully Backed as Reserve Ratios Remain Above 100% That followed custody and wallet infrastructure deals with Kyobo Life Insurance and Kbank in Korea earlier this year. However, a growing number of Ripple partnerships does not appear to be helping XRP's price.
XRP has steadily declined amidst the "crypto winter" that has gripped the market for digital assets since October 2025. XRP had traded above $3 U.S. a year ago but has drifted lower in recent months, falling below $1 U.S. on Aug. 18. There are signs that Wall Street sees a recovery in XRP's price on the horizon.
Professional traders appear to be betting that the price will rise in coming weeks and months. Futures markets show $2.78 billion U.S. worth of options contracts on XRP, with bets that the price will rise outpacing bets that it will fall by about three-to-one. XRP is designed to make global money transfers fast and cheap.
Transactions on the XRP Ledger typically settle in less than five seconds and cost less than a penny to execute.
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