XRP's price declined by 3% to $2.76, even as Japanese firm Gumi announced a $17 million investment in the cryptocurrency. Gumi, supported by SBI Holdings, plans to incorporate XRP into its treasury strategy alongside Bitcoin, with purchases expected to conclude by February. This investment is part of Gumi's broader Web3 expansion and dual-asset strategy.
In a separate development, Litecoin criticized XRP, labeling it the 'Rotten Egg Token,' which has fueled discussions on social media. Despite the price drop, XRP's long-term prospects appear positive, with a golden cross formation suggesting potential upward movement. Analysts believe that maintaining the $2.57 support level could lead to a rebound towards $3. Additionally, recent whale activity, including the purchase of 340 million XRP, indicates sustained interest and potential for a bullish trend reversal.
XRP Falls 3% Despite Gumi's $17M Investment and Litecoin Criticism
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