Ripple's XRP Forms Bearish Flag Amid Multi-Year Deal with Kansas Athletics

Ripple's XRP token has formed a bearish flag pattern on its chart, causing some analysts to predict a potential price drop. Meanwhile, Ripple CEO Brad Garlinghouse recently signed a multi-year partnership with the University of Kansas, making XRP the official cryptocurrency of Kansas Athletics and placing its logo on team jerseys.

The deal is worth $30 million, but Tom Zschach, former CIO of SWIFT, has dismissed rumors of an alleged partnership between SWIFT and Ripple's XRP token, stating 'Not Happening.'

XRP transactions operated by autonomous systems have increased by 77% over the past day, while transaction volume for the Ripple USD stablecoin (RLUSD) recorded a 32% decline.