XRP's price decreased by as much as 6% in the last 24 hours, moving from $2.20 down to $2.14, following a broader market downturn that saw cryptocurrencies lose a total of 3.81%. This occurred against a backdrop of renewed trade tension after the U.S. Court of International Trade's decision to reverse Trump-era tariffs, fueling anxiety in risky asset sectors. As a result, more than $29 million in long positions for XRP were liquidated as traders adjusted their strategies.
On a related note, Webus International, a China-based company, has announced plans to raise up to $300 million via non-equity financing to bolster its global payment network by utilizing XRP. This initiative aims to incorporate XRP's capabilities for cross-border settlements within its platform, which includes a Web3-based loyalty program and integration of on-chain booking. Webus is also set to renew its partnership with Tongcheng Travel Holdings to utilize the XRP Ledger for settling international rides and driver payments.
Technical analysis indicates XRP is facing strong selling pressure near the $2.21 resistance level and found support around $2.11 thanks to high-volume buying during a key trading hour. Despite price stabilization between $2.13 and $2.14, the prevailing pattern of lower highs suggests that sellers remain dominant. The price action shows a brief higher-low formation at $2.135, but with persistent resistance between $2.144 and $2.145, traders are advised to closely monitor for potential breakouts or breakdowns.
On a related note, Webus International, a China-based company, has announced plans to raise up to $300 million via non-equity financing to bolster its global payment network by utilizing XRP. This initiative aims to incorporate XRP's capabilities for cross-border settlements within its platform, which includes a Web3-based loyalty program and integration of on-chain booking. Webus is also set to renew its partnership with Tongcheng Travel Holdings to utilize the XRP Ledger for settling international rides and driver payments.
Technical analysis indicates XRP is facing strong selling pressure near the $2.21 resistance level and found support around $2.11 thanks to high-volume buying during a key trading hour. Despite price stabilization between $2.13 and $2.14, the prevailing pattern of lower highs suggests that sellers remain dominant. The price action shows a brief higher-low formation at $2.135, but with persistent resistance between $2.144 and $2.145, traders are advised to closely monitor for potential breakouts or breakdowns.
