Latest news with #XRPXRP
Yahoo
3 days ago
- Business
- Yahoo
XRP Falls Below 200-day Average, Bitcoin Dips to $105K as Traders Eye Core PCE
The crypto market mood was sombre Friday, with XRP XRP losing key support alongside losses in market leader bitcoin and other major tokens, as traders awaited the Fed's preferred inflation measure, the core PCE. Payments-focused XRP dipped below the 200-day simple moving average (SMA) for the first time since April 10, indicating a strengthening of downward momentum. Prices fell below $2.20, registering 4.6% losses on a 24-hour basis, according to data source TradingView. The decline followed reports of increasing demand for XRP as a corporate Treasury asset. Prices for BTC, the premier digital asset by market value, briefly fell below $105,000 during European hours, extending overnight losses to trade nearly 3% lower on a 24-hour basis. BTC's losses followed a $358 million net outflow from the 11 spot bitcoin exchange-traded funds (ETFs) Thursday, their first since May 13 and highest single-day tally since March 11, according to data source SoSoValue. Renewed trade war fears also weighed over the sentiment. Other majors, such as ETH, SOL, and DOGE, posted larger losses, with smaller tokens like OP, ARB, BONK, and PEPE falling by over 10% each, according to data source Coingecko. Consumer prices, represented by the personal consumption expenditure index, rose 0.15% on a monthly basis in April, bringing the annual inflation rate down to 2.2% from 2.3% in March, according to economists surveyed by FactSet. The core PCE, the Fed's preferred inflation measure, which excludes volatile food and energy prices, is forecast to have risen 0.12% on a monthly basis and 2.5% on an annual basis. Another good month for inflation could raise Fed rate cut bets, boding well for BTC and other assets. "All eyes now turn to the Core PCE data due today, which could reignite bullish sentiment if inflation shows signs of easing," Valentin Fournier, Lead Research Analyst at BRN, said in an email. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
3 days ago
- Business
- Yahoo
International Chauffeur Service Webus Plans $300M Raise for XRP Strategic Reserve
Webus International, a China-based provider of customizable car and touring services for travelers worldwide, said it plans to raise as much as $300 million through non-equity financing to establish an XRP XRP reserve supporting its global chauffeur payment network. The reserve is part of a broader push to integrate XRP's cross-border settlement capabilities into Webus's ecosystem, including on-chain booking records and a Web3-based loyalty program, the company said. The initiative aims to streamline international payments while preserving equity value by relying on loans, credit lines and shareholder guarantees rather than issuing new shares, CEO Nan Zheng said in the statement. The announcement follows Saudi Arabia-based VivoPower International's plans to build a $121 million XRP treasury, indicative of growing interest from companies in the fourth-largest token by market cap. The financing plan is non-binding and subject to final agreements and due diligence. Webus added it was renewing a partnership with Tongcheng Travel Holdings, one of China's largest online travel agencies, to extend their 'Wetour x Tongcheng' charter lines — stating they would aim to use the XRP Ledger to settle cross-border rides and driver payouts. Sign in to access your portfolio
Yahoo
3 days ago
- Business
- Yahoo
XRP Drops 6% as Global Economic Tensions Trigger High-Volume Selloff
XRP XRP took a sharp hit overnight, shedding more than 6% in a high-volume correction that left traders on edge amid mounting global economic uncertainties. The drop — from $2.305 to a low of $2.163 — came as the cryptocurrency market reeled from a U.S. court ruling that overturned Trump-era trade tariffs, rattling investor confidence and wiping 3.1% off the total crypto market cap, now at $3.35 trillion. The sell-off wasn't all bad news for XRP, though. Renewable energy company VivoPower grabbed headlines by raising $121 million to establish an XRP-focused treasury reserve — a first-of-its-kind move by a publicly traded firm. Then on late Thursday, China-based Webus International said it was raising upto $300 million in cash to eventually launch an XRP strategic reserve. That's giving some traders hope that institutional adoption might provide a floor for the beleaguered token. Technically, XRP saw capitulation selling in the midnight hour, with volume spiking to 174.7 million units — nearly quadruple the average 24-hour trading volume. Prices found tentative support around $2.16 before a brief rebound to $2.22. Analysts are watching key resistance at $2.23, a level that could define whether XRP can stabilize or faces further downside risk. Hourly chart patterns revealed a V-shaped recovery attempt, but resistance around $2.204 capped gains, with prices consolidating between $2.195 and $2.196. Technical indicators warn that if XRP fails to hold $2.31 support, it could plunge another 16% toward $1.96 — a level not seen in weeks. Technical Analysis XRP dropped from $2.305 to $2.163, a 6.16% decline. Midnight volume surged to 174.7M units, far exceeding the 24-hour average. Support formed at $2.16, with resistance at $2.23 capping rebound attempts. V-shaped recovery saw XRP testing $2.204 before consolidating around $2.195-$2.196. A key risk is a potential 16% drop to $1.96 if the $2.31 support fails. With the market in flux, traders are bracing for more volatility as XRP navigates the fallout from macroeconomic uncertainty and potential opportunities stemming from growing institutional interest. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
3 days ago
- Business
- Yahoo
HashKey Group Lists XRP for Institutional Investors in Asia
Hong Kong-based trading platform HashKey Group has announced the listing of XRP XRP for professional investors. The company said in a tweet that spot XRP/USD markets are now live, although the trading pair notched just $4,000 in volume in the first hour after listing. HashKey Group is licensed by the Hong Kong Securities and Futures Commission (SFC) and targets institutional investors in Asia. The listing comes after XPR was selected as one of five assets to be included in included in the U.S. strategic crypto reserve. HashKey Group cited XRP's resurgence in late 2024 as a catalyst for this cycle's first altcoin season, and in April it rolled out Asia's first XRP tracker fund in partnership with Ripple. 'HashKey Capital has been a valued partner in expanding institutional access to XRP across Asia, " Fiona Murray, Ripple's managing director of APAC said in a press release. " From launching the region's first XRP Tracker Fund to facilitating XRP's listing on HashKey Exchange, our collaboration reflects a shared commitment to real-world utility. We look forward to advancing that momentum through responsible innovation.' XRP is currently trading at $2.19, down 4.4% over the past 24 hours following a wider crypto market sell-off that has seen bitcoin slump to $105,000. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
3 days ago
- Business
- Yahoo
XRP Army Is Truly Global As CME Data Reveals Nearly Half of XRP Futures Trading Occurs in Non-U.S. Hours
The CME's recently launched XRP XRP futures underscore the cryptocurrency's international appeal, with nearly half of its trading volume occurring outside U.S. trading hours. The regulated XRP futures – standard and micro-sized contracts – began trading on the global derivatives giant a week ago, registering a total trading volume of 4,032, worth $86.6 million in the first six trading days, the exchange's spokesperson told CoinDesk. The spokesperson highlighted that "46% of the [total] volume occurred during non-U.S. hours" and nearly half of the trading comes from participants outside the U.S. The data suggest strong international participation in the futures market. XRP is a payments-focused cryptocurrency primarily designed for fast and low-cost cross-border payments. Ripple, a financial technology company, uses XRP and the XRP Ledger (XRPL) to facilitate international money transfers. The CME's standard and micro contracts, sized at 50,000 XRP and 2,500 XRP, respectively, are cash-settled and based on the CME CF XRP-Dollar Reference rate, which tracks the cryptocurrency's price daily at 4:00 p.m. London time. These futures enable traders to gain exposure to the cryptocurrency without actually owning it. Correction (May 29, 2025, 14:06 UTC): Fixes typo.
