- XRP liquidations soared 721,735% within one hour, hitting long traders.
- Webus plans a $300M XRP treasury to streamline global chauffeur payments.
XRP traders faced unexpected losses on Wednesday as a sudden price reversal wiped out long positions in under an hour. CoinGlass reported that long liquidations on XRP soared by 721,735% in just 60 minutes.Â
This figure translates to nearly $474,000 worth of long positions being erased in that brief window. In comparison, short liquidations barely exceeded $65, highlighting sellers’ overwhelming market control. The shift caught many traders off guard, reversing early optimism seen earlier in the day.
XRP failed to break through resistance levels between $2.26 and $2.28. At the time of writing, the asset fell to $2.21, marking a 2.59% daily decline. Price support has formed around the $2.21–$2.23 zone, offering a temporary floor.
However, experts warned that a close below support could open the door for further downside moves in the short term. The abrupt change in momentum reflects growing uncertainty in the broader crypto market.
Liquidation data and resistance rejections suggest bears are gaining control. Short-term volatility is likely to persist unless XRP reclaims higher ground and holds above its rejected levels.
Webus Files with SEC to Build $300M XRP Treasury
On Tuesday, China-based Webus International submitted a Form 6-K to the U.S. Securities and Exchange Commission. In the filing, the company detailed its plan to establish a $300 million XRP-based corporate treasury.
The mobility firm aims to use Ripple’s payment network to enhance cross-border transaction efficiency and improve booking system transparency in its global chauffeur services.
The company stated that the treasury would be funded using loans and credit facilities. Webus confirmed it would not raise capital through new share issuances but would instead leverage existing financial instruments.
This strategy mirrors a similar move by VivoPower International, which recently announced a $121 million XRP treasury project. Both companies’ filings suggest a rising trend in corporate adoption of XRP for financial operations beyond trading.
Disclaimer:Â This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
