Ripple (XRP) Drops to $1.48, but Global Companies Gather in Seoul... Will October Bring a Reversal?

▲ XRP Seoul 2026_Speaker

As XRP (Ripple) has fallen below $1.50, facing short-term selling pressure, global companies leading real-world asset tokenization, XRP monetization, and cross-chain infrastructure on the XRP Ledger (XRPL) are gathering in Seoul. Amid concerns about the movement of stolen funds related to the Bitget hack and the scheduled release of up to 1 billion XRP from escrow on October 1st, which poses price pressure, 'XRP Seoul 2026' will focus on real-world use cases of XRPL, from Datavault AI to SOIL, Firelight, and Axelar.

On the 29th, organizer XRPL Korea unveiled the fourth lineup of speakers for XRP Seoul 2026, which will be held on October 3rd at Grand Hyatt Seoul. Ripple is participating as the title sponsor for this event, held during Korea Blockchain Week 2026 (KBW2026 with Upbit). The newly announced speakers include Nasdaq-listed Datavault AI, as well as SOIL, Firelight, Axelar, RedStone, and Midnight. Previously, the participation of key Ripple executives such as Monica Long (President of Ripple), Kristina Chan, and Ayo Akinyele, along with K-Weather, Trea, Robinhood, and Bitstamp, was also announced.

The event will cover various cases, from real-world asset tokenization to on-chain finance utilizing XRP. Nathaniel T. Bradley, CEO of Datavault AI, will deliver a keynote. The company announced on the 15th that it had launched three trading platforms, including 'IDE,' which encompasses data valuation, tokenization, and trading, and secured its first purchase order worth $100 million for its tokenization services. SOIL provides deposit yield to XRP and Ripple USD (RLUSD) holders through its XRPL-based on-chain vault, with XRP deposits reaching approximately $30 million and over 3,000 depositors as of mid-month. Firelight, an on-chain cover protocol that protects digital assets from technical and economic risks using staked XRP as collateral, raised $8 million in seed funding last month.

Infrastructure connecting XRPL with other blockchains will also be a key agenda. Axelar, which connects over 80 blockchains, served as the first cross-chain connector when the XRPL EVM sidechain launched last year, and its cumulative transfer volume, according to its own explorer, is approximately $13.5 billion this month. RedStone is a modular oracle company that supplies price data to over 200 protocols and institutions across more than 110 blockchains, with assets managed by its related data amounting to approximately $9.1 billion, according to its website. Representatives from the privacy blockchain Midnight, as well as SC Ventures, Catalyze Research, Aceto, Anchored Finance, and PL Capital, will also participate as speakers.

Contrary to expectations of ecosystem expansion, XRP's price is facing short-term bearish pressure. According to CoinMarketCap data on the 29th, XRP traded at $1.48, down 2.03% over 24 hours. While the total cryptocurrency market cap fell by 1.35% and Bitcoin (BTC) by 1.15%, XRP's decline was relatively larger. In particular, news that hackers moved approximately $83 million worth of stolen XRP from their wallets in connection with the $351.6 million Bitget hack fueled additional selling concerns. During the price decline, a long position liquidation imbalance reached 980%, and 24-hour trading volume surged by 65.53%, indicating that leveraged position liquidations amplified the drop.

The market views the recovery to $1.50 and the scheduled release of up to 1 billion XRP from escrow on October 1st as short-term turning points. If XRP holds above $1.45, it could attempt to recover to $1.50 again, with $1.50-$1.54 identified as a resistance zone. Conversely, if $1.45 breaks, further correction to $1.41, where the 61.8% Fibonacci retracement is located, becomes possible. With major events continuing, including XRP Seoul 2026 on October 3rd and validator announcements regarding the XRPL protocol upgrade scheduled for October 8-9, it remains to be seen how short-term supply pressure and ecosystem expansion expectations will impact XRP's price.

*Disclaimer: This article is for informational purposes only and does not constitute investment advice. We are not responsible for any investment losses incurred based on this information. The content should be interpreted solely for informational purposes.*