CoinDesk
XRP was down more than 1% on Tuesday and over 2% on the week, making it the weakest major token on both measures. At the same time, Jeonbuk Bank became the first regional bank in South Korea to deploy Ripple Payments for near-real-time cross-border transfers to business customers. Ripple has not said whether the transfers will use XRP or its dollar-pegged RLUSD stablecoin.
Why it matters
Jeonbuk will offer the service to importers, exporters, IT startups and online content creators. Ripple says its route settles in seconds to minutes and runs around the clock, while transfers through intermediary banks using the SWIFT messaging network can take days.
The partnership expands Ripple's institutional footprint, but it does not automatically create demand for XRP. Ripple has spent the past year positioning RLUSD as the settlement asset for institutional work. Fiona Murray, Ripple's Asia Pacific managing director, said Korean financial institutions are building digital-asset capabilities and seeking long-term infrastructure partners.
Market impact
XRP has drifted from above $3 at last year's highs toward and through $1 even as Ripple signed deals with asset managers, custodians and banks. On the XRP Ledger, tokenized real-world assets total about $1.38 billion, including $845 million of RLUSD, which accounts for more than three-fifths of the total.
Futures open interest in XRP is about $2.78 billion, with more than three long accounts for every short on Binance and a similar ratio on OKX. Social commentary has turned the most negative in three months, creating a sharp split between bullish leveraged positioning and XRP's spot performance. The next signal is whether the Korean rollout names XRP as the settlement asset.
Frequently asked questions
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Will Jeonbuk Bank's Ripple Payments transfers use XRP or RLUSD?
Ripple has not said whether the bank's cross-border transfers will settle in XRP or its dollar-pegged RLUSD stablecoin.
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How quickly does Ripple say the Korean payment route can settle?
Ripple says its route settles in seconds to minutes and operates around the clock. Transfers through intermediary banks using SWIFT can take days.
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Which businesses will Jeonbuk Bank serve with Ripple Payments?
The service is intended for business customers including importers, exporters, IT startups and online content creators.
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How large is RLUSD on the XRP Ledger relative to tokenized assets?
Tokenized real-world assets on the XRP Ledger total about $1.38 billion, of which $845 million is RLUSD. That gives RLUSD more than three-fifths of the total.
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What does XRP derivatives positioning show despite the decline?
XRP futures open interest is about $2.78 billion. Binance has more than three accounts holding long XRP positions for every one holding a short, with a similar ratio on OKX, while social commentary is at a three-month low.
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