XRP Dips to $0.98 Amid Ripple- Jeonbuk Bank of Korea Partnership Deal
Ripple (XRP) price slipped 1.11% to $0.98972, underperforming the Bitcoin market, which rose 1.11% over the same period. The drop is primarily driven by a technical rejection at the critical $1 support level amid persistent bearish sentiment and selling pressure in derivatives markets.
XRP has tested the $1 level for eight consecutive sessions. The 24h drop occurred on a 42.46% surge in trading volume to $937.72 million, confirming selling pressure at this crucial round-number support.
Momentum is weak, and the price is trading below all key moving averages, with traders reporting the token has hit an oversold region across key technical signals.
The market is actively defending—and failing to hold—the $1 level, a major psychological and technical floor. A daily close below $0.98 could trigger further stop-losses and liquidations.
Binance’s perpetual cumulative volume delta (CVD) has shown persistent selling pressure, dropping from -$251 million to -$349.5 million recently.
Social sentiment hit a three-month bearish extreme per Santiment data, even as on-chain activity increased. Leveraged traders are positioned bearishly, and crowd pessimism is high, creating a fragile environment for price.
The immediate trigger is the defense of the $1 level. Key resistance is the shallow Fibonacci retracement at $1.0281. If XRP cannot reclaim this level, the next major support is $0.9061.
The market-wide Fear & Greed Index is Neutral at 40, offering no strong directional cue. The trend is bearish below $1.0281, with high risk of a deeper correction. Investors are watching for price action around $1.0281 resistance and $0.98 support in the next 24-48 hours.
XRP’s failure to hold $1 amid high volume and oversold conditions suggests continued selling pressure. The lack of a positive catalyst and heavy selling of derivatives reinforce the downtrend.
In an official statement, Ripple, the leading provider of blockchain-based enterprise solutions across traditional and digital finance, today announced a partnership with Jeonbuk Bank, making it the first regional bank in Korea to deploy Ripple Payments for cross-border remittances, bringing near-real-time settlement to businesses that have historically relied on transfers taking days to complete.
Traditional bank transfers pass through multiple intermediary banks via the SWIFT network and can take days to process. Ripple Payments replaces this with near-real-time settlement, completing within seconds to minutes and operating 24/7.
Jeonbuk Bank can now offer faster, more transparent, and cost-effective remittance services to its global business customers, including import-export companies, IT startups, and online content creators. XRP Price Climbs as Ripple Launches XRPL AI Starter Kit
