# XRP price has dropped by more than 2% today, May 8, but this is not an isolated case because the rest of the market was in the red.

*fintech · news · 2026-05-08 · CoinGape*

## Key points

- Ripple USD (RLUSD) stablecoin's market cap rose from $1.24B to $1.55B in seven weeks.
- BlackRock publicly stated support for using stablecoins for payments, pending proper regulation.
- JPMorgan reportedly plans to use the XRP Ledger to tokenize treasuries, linking Wall Street with Ripple.
- Ripple formed a new partnership with KBank in South Korea to facilitate blockchain payments.
- Whale inflows to Binance for XRP are at their lowest since 2022, indicating minimal large-scale selling.

**Companies:** BlackRock, Ripple, JPMorgan, KBank
**Countries:** United States, South Korea

[Read the full story on CoinGape](https://coingape.com/markets/heres-why-xrp-price-could-rally-30-as-rlusd-hits-1-55b-amid-blackrocks-stablecoin-push/)

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