Ripple Secures Fourth Korean Institutional Partner as XRP Price Drops to $1.33
Ripple (CRYPTO:XRPUSD) announced a partnership with South Korean firm Meritz Securities to explore bringing digital asset custody and tokenization infrastructure to the country's capital markets. The agreement marks Ripple's fourth institutional partnership in South Korea during 2026 and its first deal specifically with a securities brokerage.
Despite the expanding institutional presence across Korean banking, insurance, and securities sectors, XRP has failed to gain upward momentum. The token fell over 9% in a week, driven by the liquidation of leveraged long positions and weakness across broader sentiment. XRP trades around $1.33, below its 50-day exponential moving average of $1.39 and 200-day exponential moving average of $1.38 after breaking lower from a technical triangle pattern.
Market participants are monitoring key technical chart levels to see if the sell-off stabilizes. Immediate technical support rests near the 100-day moving average at $1.34, while overhead resistance stands between $1.42 and $1.44 along the 20-day moving average and broken trendline.
Key points
- Ripple partnered with South Korea's Meritz Securities to explore custody and tokenization infrastructure.
- The agreement is Ripple's fourth institutional deal in South Korea in 2026 and its first with a securities firm.
- XRP slipped to around $1.33, dropping over 9% over the past week as leveraged long positions were flushed out.
- XRP traded below its 50-day EMA at $1.39 and 200-day EMA at $1.38 after breaking support.
Written by our AI from expert market sources across the web. It can contain mistakes: check the facts before acting on them. Write-ups powered by the free AI API at FreeTheAI.org
How we writeDisclaimerQuestions and answers
What is the new partnership between Ripple and Meritz Securities?
Ripple and Meritz Securities are partnering to explore introducing Ripple Custody and tokenization infrastructure into South Korea's capital markets.
Why is XRP dropping despite new institutional partnerships?
XRP has faced selling pressure from flushed-out leveraged long positions and weak market sentiment, pushing the price below key moving averages regardless of positive business developments.
What key technical price levels should XRP investors watch?
Immediate technical support is located around $1.34 at the 100-day moving average, while main resistance lies between $1.42 and $1.44 near the 20-day moving average and broken trendline.