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XRP failed to hold its gains after Ondo Finance, Ripple, Kinexys by JPMorgan, and Mastercard completed what Ondo described as the first near-real-time, cross-border, cross-bank redemption of tokenized US Treasurys.
Announced on May 6, the pilot used the XRP Ledger for the asset redemption leg, while the fiat side moved through Kinexys and Mastercard-linked banking infrastructure.
Ondo said the blockchain leg settled in under five seconds, positioning the announcement as one of the more credible institutional blockchain headlines tied to XRPL this year.
Despite the institutional framing, the market reaction was negative. XRP opened May 6 near $1.41, rallied intraday to about $1.456, and then quickly reversed.
By May 8, XRP was trading around $1.387, down roughly 4.8% from the May 6 post-announcement high.
The article notes that partnership announcements may strengthen Ripple’s institutional credibility, but they have historically produced less impact on XRP’s market value than some traders expect.
In April, Ripple announced a partnership with Kyobo Life Insurance to pilot Korea’s first tokenized government-bond settlement workflow using Ripple Custody. XRP traded around $1.362 on April 15 and rose to about $1.431 seven days later (up roughly 5.1%). By April 29, XRP was around $1.381, indicating that much of the early upside had faded.
Earlier, Ripple said it joined the Monetary Authority of Singapore’s BLOOM initiative and partnered with Unloq to test programmable settlement infrastructure in trade finance. XRP traded near $1.415 on March 25, fell to roughly $1.340 by April 1, and then recovered to about $1.439 by April 24—showing a negative initial seven-day reaction and only a marginally positive 30-day move.
The article also cites Ripple’s Dec. 12, 2025 announcement that AMINA Bank became the first European bank to adopt Ripple Payments. XRP was about $2.03 on the day, hovered around $2.09 roughly a month later, and then fell to around $1.38 by March 2026.
The takeaway presented is that even high-profile banking and infrastructure deals have not reliably protected XRP from weaker performance, suggesting the market may be separating Ripple-the-company from XRP-the-token. Until partnerships produce measurable token demand, the article argues XRP may continue to face similar downside outcomes.
On the daily chart, XRP is described as trading within a symmetrical triangle formed by lower highs and higher lows as volatility tightens. The setup is characterized as neutral on its own, but potentially bearish because it follows a strong downtrend from January highs.
The upper trendline has capped rebounds near the $1.40–$1.45 range, while the rising lower trendline has held price above $1.25–$1.30. The article says XRP remains below the 50-day EMA near $1.40 and the 200-day EMA near $1.72, which it frames as favoring sellers.
A confirmed break below the triangle’s lower trendline could target a move toward $1.00–$1.02, described as the pattern’s projected downside target and aligned with a key horizontal support zone.
The RSI is reported near 49, indicating weak momentum—neither oversold enough to suggest selling pressure has fully exhausted nor strong enough to support a bullish breakout.
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