#夏日创作营

#XRP
XRP and Bitcoin Prices Fall: Rising Continues in South Korea

XRP's price is lagging behind Bitcoin and is stuck in a descending channel. However, one of the token's largest markets is approaching the situation very differently: Korean traders are selling Bitcoin at a greater discount while not selling XRP as aggressively.

This is where the real story lies. XRP still moves with Bitcoin day-to-day and needs the leader's support. However, the weaker selling by Korean investors shows that they haven't abandoned their tokens.

XRP Moves with Bitcoin, But Its Strength is Weak

Looking at the last 30 days, XRP and Bitcoin have moved almost identically. The daily return correlation is around 88%. Therefore, claims that XRP will diverge from BTC are not very valid. It follows the leader both when rising and falling.

But the real difference is not in direction, but in strength. While Bitcoin has remained flat in the last month, XRP has lost approximately 5% of its value. The XRP/BTC ratio has similarly declined by around 5%. In other words, XRP falls when Bitcoin falls, but it can't keep up when it rises. This pattern is valid across the global market.

Therefore, XRP has been weak this month among coins with large market capitalization. While Ethereum rose, XRP declined. So it's losing market share not only against the leader but also against other competitors.

XRP's Only Resilience: Korea

Now things are changing. Bitcoin's Korean Premium Index is hovering around -1.18%. This means BTC is trading at a discount of over 1% compared to global markets on Korean cryptocurrency exchanges.

This discount indicates that Korean individual investors are cautious and on the selling side. On the other hand, the XRP price is almost at the same level as global prices.

This difference is significant because Korea is one of XRP's largest markets. So, even though XRP is weak in the global market, Korean investors are less willing to sell the token compared to Bitcoin. This stands out as a small but noticeable indicator of stability in the markets.

It tracks how much higher or lower prices on the Korean cryptocurrency exchange are compared to the rest of the world. A positive level means Koreans entered the market at a high price, while a negative value means selling at a discount.

Selling Decreases, New Move from Ripple

There are two important developments that could support XRP from here. First, while the price fell this month, the volume of selling decreased. This indicates that the downward pressure is starting to weaken.

Second, Ripple recently joined the Linux group and will provide integration with XRP and RLUSD for AI agent payments on the XRP Ledger. The concept of agentic payments, where software automatically makes service payments on its own behalf, is one of the most popular themes in the crypto world right now.

However, high correlation is currently the biggest disadvantage. For a real recovery, with XRP so tightly tied to Bitcoin, BTC needs to rise rather than XRP acting alone. As of early July, on-chain data shows that the appetite of XRP investors to buy has decreased. In other words, the buying side is still weak.

Price Levels to Watch in XRP

Currently, the XRP price is trading around $1.09, stuck within a descending channel. Movements along the edge of the channel will show the stability of Korean buyers, weakening sellers, and whether the x402 catalyst can translate into real demand.

For a trend reversal, XRP needs to close above $1.11 daily. This level is both the upper band of the channel and the 0.236 Fibonacci zone. A break above this level would signal that buyers have finally prevailed, paving the way for $1.18 and higher. However, considering the 0.88% correlation with Bitcoin, this rise likely requires the BTC price to also move upwards.

On the other hand, the $1.07 level is a critical support. If it falls below this level, it will become clear that Korean support and Ripple news are insufficient, and XRP, along with Bitcoin, could face a risk of breaking below $1.04, then the psychologically significant $1.00, and even further below $1. Therefore, the $1.16 level defines the line between a genuine recovery and a new wave of decline.

$XRP ‌