China’s Webus International revealed plans to raise up to $300 million through non-equity financing to create a strategic XRP reserve supporting its cross-border payments infrastructure.
In a May 29 press release, The Nasdaq-listed AI-powered mobility company said the initiative is part of its plan to transform its premium chauffeur service into a seamless, borderless experience for international travelers. The firm intends to avoid shareholder dilution by sourcing the funds from commercial bank loans, shareholder guarantees, institutional credit lines, and existing cash.
Chief executive officer Nan Zheng said the XRP (XRP) reserve is one of three initiatives funded by the raise. The others include a proprietary blockchain infrastructure with on-chain booking records, a web3 loyalty token, and custom wallets.
“Domestically, our Tongcheng Partnership provides unmatched reach across China’s mobility landscape. Internationally, our potential XRP implementation can eliminate traditional payment friction,”
— Nan Zheng, Webus International CEO
The proposed XRP reserve will be paired with in-house wallets to enable real-time fare settlements and instant driver refunds. Executives stressed that the financing plan is non-binding until final documentation and due diligence are completed. No timeline was given for when XRP purchases may begin.
Webus’s disclosure comes just one day after VivoPower International announced a $121 million private placement to fund an XRP treasury of its own. The energy firm will sell shares to digital asset investors and partners, including Saudi Royal Prince Abdulaziz bin Turki Al Saud, with plans to deploy the capital into XRP and XRP Ledger infrastructure.
While Bitcoin (BTC) remains the dominant corporate treasury asset, XRP appears to be emerging as a specialized settlement layer for companies aiming to integrate blockchain with real-world services. Still, XRP has yet to reflect this growing institutional interest in price.
XRP continues to struggle despite a surge in corporate treasury interest. As of press time, the token trades at $2.19, marking a 4% daily drop. The price remains below the 20-day Bollinger Band midline at $2.37, with upper and lower bands at $2.56 and $2.18, respectively. XRP is now testing the lower band, indicating weakness and potential downside volatility.
The relative strength index has dropped to 40.72, moving below the neutral 50 line, which indicates fading bullish momentum and the potential for continued consolidation or a further correction. Without a decisive breakout above $2.37, XRP appears stuck in a ranging structure and is failing to capitalize on institutional treasury announcements for now.
Support levels to watch include $2.18 and $2.12, with a deeper breakdown risking a retest of the $2.00 psychological level. On the upside, any rally would need to clear $2.37 and then $2.56 to confirm a bullish reversal.
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