Webus International Gears Up for $300M XRP Bonanza!

China's Mobility Giant Bets Big on XRP for Global Chauffeur Service

Hold onto your hats, crypto fans! Webus International, the powerhouse from China, just dropped a bombshell. They're eyeing a cool $300 million through non-equity financing to build a killer XRP reserve. Why? To turbocharge their cross-border payment system, of course!

On May 29, this Nasdaq-listed AI mobility beast announced their game plan to turn their premium chauffeur service into a seamless, borderless ride for international jet-setters. And get this—they're avoiding shareholder dilution by snagging the cash from commercial bank loans, shareholder guarantees, you name it.

CEO Nan Zheng is all in, saying the XRP reserve is just one piece of their three-part master plan. They're also cooking up a proprietary blockchain, a slick web3 loyalty token, and custom wallets. Talk about going all out!

“Domestically, our Tongcheng Partnership gives us the whole of China's mobility scene. But globally? XRP could be the key to blowing past those pesky payment barriers!”

— Nan Zheng, Webus International CEO

Here's the deal: this XRP reserve will hook up with their in-house wallets to make fare settlements happen in real-time and give drivers instant refunds. But hold up—nothing's set in stone until the paperwork and due diligence are locked down. No word yet on when they'll start scooping up XRP.

And guess what? Webus isn't the only one making moves. Just yesterday, VivoPower International announced they're diving into a $121 million private placement to fund their own XRP treasure chest. They're selling shares to digital asset bigwigs, including a Saudi Royal Prince, to pour into XRP and XRP Ledger infrastructure.

Sure, Bitcoin's still the king of corporate treasuries, but XRP is carving out its niche as the go-to for settling real-world business. But here's the kicker: despite all this corporate love, XRP's price isn't feeling the heat yet.

XRP's still struggling, folks. Right now, it's trading at $2.19, down 4% on the day. It's hanging below the 20-day Bollinger Band midline at $2.37, with the upper and lower bands at $2.56 and $2.18. It's testing the lower band, signaling weakness and potential for more volatility.

The relative strength index has tanked to 40.72, dipping below the neutral 50 line. That's telling us the bullish vibes are fading fast, and we might see more sideways action or even a dip. Without a strong breakout above $2.37, XRP's stuck in limbo, not riding the wave of these treasury announcements.

Keep an eye on support levels at $2.18 and $2.12. If it breaks down further, we could see a dive towards the big $2.00. On the flip side, a rally needs to blast past $2.37 and then $2.56 to flip the script and go bullish.