XRP fell below $1 on Tuesday, down over 1% on the day and more than 2% on the week, the weakest of the major tokens on both views.
The slide came as Ripple, the company most associated with XRP, announced its third Korean partnership of the year, with Jeonbuk Bank becoming the first regional bank in the country to deploy Ripple Payments for cross-border transfers.
This follows custody and wallet infrastructure deals with Kyobo Life Insurance and Kbank earlier in 2026.
Bank transfers today hop between intermediary banks over the SWIFT messaging network and can take days to arrive. Ripple says its route settles in seconds to minutes and runs around the clock, which the bank will offer to business customers including importers, exporters, IT startups and online content creators.
In a release shared with CoinDesk, Ripple called describes the service as delivering near real-time stablecoin cross-border settlement, without specifying which asset moves the money.
Fiona Murray, Ripple’s managing director for Asia Pacific, said the deal reflects growing momentum across Korea’s institutional financial sector, with banks building digital asset capability and looking for long-term infrastructure partners. Regional banks play a vital role in the real economy, she said.
