Ripple, a US-based blockchain company specializing in global payment solutions, announced a significant new institutional agreement with South Korea’s Jeonbuk Bank on August 18. As part of the partnership, Jeonbuk Bank became the first regional bank in Korea to implement Ripple Payments for cross-border remittances, transitioning away from traditional SWIFT-based solutions.
Ripple expands Korean partnerships
Jeonbuk Bank, a provider of financial services for import-export companies, tech startups, and digital content creators, has now enabled its clients to send and receive cross-border payments within seconds. This upgrade replaces the multi-day settlement times typical with SWIFT, allowing business customers to access near real-time, 24/7 transactions.
The agreement marks Ripple’s third major institutional deal in South Korea this year, following earlier partnerships with Kyobo Life Insurance and Kbank. By integrating Ripple Payments, Jeonbuk Bank joins a growing list of Korean financial institutions adopting Ripple’s technology for efficient international transfers. In these partnerships, XRP operates as the bridge digital asset facilitating rapid settlement between different currencies.
Mini dictionary: Jeonbuk Bank, a regional South Korean bank, offers a range of financial products and specializes in serving corporate and digital business clients.
ETH
SOL
BSC
ROBINHOOD
USDT
AAPLRipple’s growing presence in Korea extends across insurance, digital banking, and regional banking sectors, cementing its influence as regulations around digital assets in the region continue to evolve.
Investor frustration and price stagnation
While the Jeonbuk Bank partnership was widely celebrated as a positive milestone for Ripple and XRP, the cryptocurrency’s market performance failed to reflect the news. As the announcement surfaced, XRP fell below the $1 mark, sparking frustration among long-term holders and industry observers.
Crypto Bitlord, a well-known investor and commentator in the crypto space, voiced disappointment across social media:
“More good news for $XRP. Meanwhile, the market decides to crash it under $1. I’m slowly starting to hate this coin.”
Other community members expressed similar frustrations, with some admitting they feel “too deep in to do anything but hold and hope.” Crypto Bitlord noted that, despite XRP’s strong fundamentals “on paper,” the price has remained stubbornly stagnant, attributing this partly to waves of holders selling their positions earlier in the year.
Community splits on patience and outlook
Figures like BankXRP, a prominent XRP community member, acknowledged the current challenges and called for continued patience, while others questioned how much longer holders should wait for significant price movement.
XRP “had all the right things going for it on paper,” but lingering price weakness, even after positive developments, has affected community sentiment.
A number of outside voices questioned XRP’s market valuation compared to competing assets, suggesting that positive announcements have historically had little effect on price, while negative news tends to trigger sharp declines. This perception fueled additional skepticism among investors.
Recently, Ripple President Monica Long highlighted the company’s acquisition of over 75 global licenses and various partnerships in an industry interview. Despite these milestones, many community members remained unconvinced, pointing to the disconnect between company progress and XRP’s lackluster price trajectory.
The disconnect between fundamentals and price
At press time, XRP traded at $0.99, down nearly 1% for the day, underscoring the frustration circulating among investors. The continued divergence between Ripple’s institutional advances and the lack of corresponding gains in XRP’s value has become a central tension for holders looking for price appreciation.
