XRP Lags at $1.40 Amid Ripple, Kyobo Tokenised Bond Deal
Ripple (CRYPTO: XRP) price is down 1.51% to $1.35 over the past 24h, underperforming a slightly weaker broader market, primarily due to a technical rejection at key resistance and a sector-wide rotation away from altcoins.
Price faced strong selling pressure after failing to break above $1.40, a level that coincided with capital flowing out of altcoins. XRP’s price was rejected at the resistance zone, a level that has capped multiple rallies.
This occurred alongside a broader decline in the Altcoin Season Index, which fell 5.71% in 24 hours, signalling capital rotating away from altcoins like XRP and back toward Bitcoin.
The move reflects profit-taking and risk-off sentiment within the altcoin sector, not a coin-specific fundamental breakdown.
On-chain reports indicate XRP’s liquidity on exchanges like Binance has hit its lowest level since 2021. In thin markets, even moderate selling can lead to disproportionate price declines, which likely amplified today’s drop.
The current market structure is fragile, making XRP prone to volatile swings in either direction until liquidity improves. The immediate trend is neutral-to-bearish within a $1.35–$1.40 range. The 78.6% Fibonacci retracement level at $1.35 is a critical support level.
A catalyst could be the CLARITY Act markup expected in late April, which may provide regulatory clarity. If support holds, a retest of $1.40 is likely; a breakdown targets $1.30.
Crypto analysts said XRP’s decline is a combination of technical resistance and weakness in the altcoin sector, exacerbated by poor liquidity. The path forward hinges on holding key support.
Ripple and Kyobo Life Insurance announced a partnership to test tokenised settlement of government bonds in South Korea using Ripple Custody.
The project is in a technical feasibility phase on a testnet, aiming to reduce settlement cycles from two days to near real-time within a regulated framework.
Ripple has partnered with Kyobo Life Insurance to enable Korea’s first tokenised government bond settlement on blockchain, cutting settlement cycles from two days to near real-time execution.
This marks Ripple’s first collaboration with a leading Korean insurance institution and represents a significant step toward the development of institutional-grade digital asset infrastructure in the country.
The partnership leverages Ripple Custody as the secure foundation for holding, transferring, and settling tokenised assets. The platform replaces fragmented, manual bond settlement processes with transparent, on-chain execution. XRP Slides to $1.33, Tracking Below Target Price