XRP dropped $1 on Tuesday, and nearly a week has been weaker than most major coins. At the same time, Ripple continues to expand its South Korean cooperation with institutions, but the XRP settlement has not been explicitly adopted for the newly signed bank project, and the market is more concerned about the increasing role of RLUSD in institutional payments.

New regional banking cooperation in Korea

All North Bank will have access to Ripple Payments, which will provide cross-border remittance services to business clients, covering groups such as importers, exporters, IT start-ups and online content creators. Ripple indicates that the network can be run around the clock and the settlement time can be reduced from days to seconds or minutes.

This is Ripple's third cooperation this year in Korea. Previously, the company had cooperated with the life insurance and Kbank in the hosting and wallet infrastructure. All North Bank also became the first regional bank in Korea to deploy Ripple cross-border payment services.

Settlement of assets remains unclear

The focus of market concerns is on the asset(s) used to settle the new business. Ripple has continued to promote the United States dollar stabilization currency, RLUSD, as the principal clearing-house tool for agency operations over the past year, but at the time of the release of the report the company had not indicated whether the North Bank project was using XRP or RLUSD.

This explains the deviation between the value of the XRP and the expansion of the Ripple Agency. Although Ripple continued to sign banks, trustees and regulators, XRP prices did not benefit simultaneously. The coin went up to over $3 last year, and since August it has fallen back and broken down by $1.

RLUSD ratio and multi-head hold

This change is also reflected in the asset structure of Ripple ' s own book of accounts. CoinDesk previously reported that the total size of the monetized real assets on XRP Ledger was approximately $1.38 billion, of which $845 million, or more than three fifths, was RLSD.

At the same time, derivatives markets remained disproportionate. The XRP futures contract is about $2.78 billion this week. On Binance and OKX, the number of accounts holding XRP multihead slots is significantly higher than the empty header, and the ratio exceeds 3 to 1. However, the debate on the XRP on social platforms has fallen to its worst level in almost three months.