🌏 XRP at a Turning Point as Ripple Doubles Down on Asia-Pacific Expansion
XRP's upswing is weakening, signaling trader weariness and profit-taking.
Ripple adds $5 million to Asia-Pacific blockchain innovation financing.
As global markets await the outcome of the second day of trade discussions between senior US and Chinese officials, XRP's price is around $2.27, down over 2% on the day.
Ripple invests more in APAC
With $5 million in financing from its worldwide University Blockchain Research Initiative, Ripple has increased its APAC commitment.
Six nations are involved, including renewed cooperation in South Korea, Japan, and Singapore and new funding to Taiwan and Australia.
Ripple's growing emphasis in APAC matches governments' efforts to clarify crypto legislation and boost digital finance.
UBRI has been establishing the groundwork for blockchain innovation in higher education in communities of builders, stakeholders, and users.
Ripple will spend $1.1 million in Korea University over six years under the renewed ties. The previous connection with Yonsei University is continued here.
Ripple extended its Kyoto University relationship to enhance blockchain research in Japan. The cooperation grants $1.5 million.
Nanyang Technological University (NTU) will expand its cooperation with NUS with $3 million.
"We can involve more students and researchers in the blockchain ecosystem by allowing them to build on the XRPL and contribute to its growth, advancing our blockchain education initiatives," stated NTU College of Computing & Data Science Professor Yang Liu.
Along with funding, UBRI promotes research and development to create blockchain, cybersecurity, and information systems skills. UBRI has spent over $11 million in APAC blockchain and fintech education, adoption, and innovation.
XRP's price upside remains strong despite the unprecedented financing news, but technical signs are pessimistic. Current support is $2.25 and resistance is $2.32 for the coin.
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