diff --git a/README.rst b/README.rst
index 227eaed..248bd6a 100644
--- a/README.rst
+++ b/README.rst
@@ -56,6 +56,9 @@ Anymail releases follow `semantic versioning <http://semver.org/>`_.
        :target: https://travis-ci.org/anymail/django-anymail
        :alt:    build status on Travis-CI
 
+.. image:: https://readthedocs.org/projects/anymail/badge/?version=latest
+       :target: http://anymail.readthedocs.org/en/latest/
+       :alt:    documentation on ReadTheDocs
 
 **Resources**
 
diff --git a/setup.py b/setup.py
index e1c9436..74594c2 100644
--- a/setup.py
+++ b/setup.py
@@ -11,10 +11,13 @@ with open("anymail/_version.py") as f:
 
 
 def long_description_from_readme(rst):
-    # In release branches, freeze some external links to refer to this X.Y version:
-    if "dev" not in __version__:
-        rst = re.sub(r'branch=master', 'branch=v' + __minor_version__, rst)  # Travis build status
-        rst = re.sub(r'/latest', '/v' + __minor_version__, rst)  # ReadTheDocs
+    # Freeze external links to refer to this X.Y version (on PyPI).
+    # (This relies on tagging or branching releases with 'vX.Y' in GitHub.)
+    release = 'v%s' % __minor_version__  # vX.Y
+    rst = re.sub(r'(?<=branch=)master'     # Travis build status: branch=master --> branch=vX.Y
+                 r'|(?<=/)latest'          # ReadTheDocs links: /latest --> /vX.Y
+                 r'|(?<=version=)latest',  # ReadTheDocs badge: version=latest --> version=vX.Y
+                 release, rst)  # (?<=...) is "positive lookbehind": must be there, but won't get replaced
     return rst
 
 with open('README.rst') as f: