Ripple Lands First Korean Regional Bank Deal as XRP Struggles to Hold $1

Ripple on Monday signed its first Korean regional bank partnershi, bringing near real-time cross-border payments to Jeonbuk Bank even as XRP (CRYPTO: XRP) starts slipping below $1.

What Does the Jeonbuk Bank Deal Actually Cover?

According to a Ripple press release, Jeonbuk Bank becomes the first regional bank in Korea to deploy Ripple Payments for cross-border remittances. 

Traditional bank transfers through the SWIFT network take days and pass through multiple intermediaries. 

Ripple Payments replaces that with settlement completing in seconds to minutes, running 24 hours a day, seven days a week.

The partnership targets Jeonbuk Bank’s global business customers including import-export companies, IT startups, and online content creators who need faster and cheaper international transfers.

Ripple Managing Director for Asia Pacific Fiona Murray noted in the release that regional banks play a vital role in the real economy and that the partnership extends near real-time settlement directly to the businesses Jeonbuk Bank serves. 

Meanwhile, Jeonbuk Bank President Park Choon-won added that the deal positions the bank as a digital finance leader meeting global standards rather than just a regional lender.

Why Is Korea Becoming a Key Ripple Market?

Monday’s deal is Ripple’s third major Korean partnership this year. All three cover different parts of the market:

• Kyobo Life Insurance — Korea’s largest life insurer, exploring on-chain government bond settlement
• Kbank — Korea’s first internet-only bank, deploying institutional wallet infrastructure through Ripple Custody
• Jeonbuk Bank — Korea’s first regional bank on Ripple Payments, handling cross-border remittances

Together the three deals span custody, payments, and treasury management across every major segment of Korea’s institutional financial market.

Why Is XRP Struggling Despite the Good News?

XRP closed at $0.9943 Monday, also testing $1 level for the ninth consecutive session today with each retest landing weaker than the last. 

The Parabolic SAR flipped bearish at $1.0271, now stacked alongside the 20-day EMA at $1.0283 as immediate overhead resistance. 

A daily close below $0.98 confirms the breakdown. Only a strong close back above $1.03 delays it.

XRP Levels to Watch:

• $1.03 — First resistance above
• $1 — psychological floor, now failing
• $0.98 — breakdown confirmation on a daily close below

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