XRP news:
Despite Price Dip, Webus Picks XRP for Fast Global Transactions
Webus International has announced plans to raise $300 million. The company wants to use this money to build a reserve of XRP, a popular cryptocurrency, and to make cross-border payments easier within its transportation network. This move could help Webus pay drivers and partners more quickly and even issue instant refunds when needed.
To raise the funds, Webus won’t rely on selling company shares. Instead, it will use different methods like bank loans, available cash, shareholder support, and credit from corporate partners. These methods are called “non-equity vehicles,” which means Webus can get the money without giving away ownership in the company.
As part of this plan, Webus also wants to create a blockchain-based system. This includes setting up digital wallets, creating Web3 tokens, and keeping booking records directly on the blockchain. These features can improve the company’s payment process and make it more transparent and secure for users around the world.
The CEO of Webus, Nan Zheng, said that using XRP internationally could remove many problems with regular payment systems. It could allow instant payments to drivers and service providers, and offer quick refunds when needed. However, the company also mentioned that the plan isn’t final yet and still needs to go through a legal process before everything is official.
This news follows a similar move by VivoPower, a company listed on the Nasdaq, which recently raised $121 million to hold XRP as part of its financial reserves. More companies are starting to see value in using cryptocurrencies like XRP as a way to store money, especially beyond the usual choice of Bitcoin.
The announcement comes at a time when XRP is gaining more attention. Recently, XRP futures were listed on the CME (Chicago Mercantile Exchange), and a new ETF (exchange-traded fund) for XRP was launched by Volatility Shares. Meanwhile, other companies are still waiting for the U.S. SEC to approve similar spot ETFs for XRP.
Despite the positive news, XRP's price has not performed well lately. It dropped below its 50-day average of $2.29 and has fallen further to around $2.21. If this trend continues, it may fall to the next support level of $1.96. Technical indicators also suggest the price may stay weak unless a strong recovery takes place. If that happens, XRP might rise again to retest the $2.29 level.
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