ViVoPower Secures $121 Million for XRP-Based Treasury Strategy
Ripple-associated XRP is currently priced at $2.28, down 0.70% in the past 24 hours, indicating no price breakout from ViVoPower's recent integration.
Vivopower Fundraising and Strategy
- VivoPower International has raised $121 million through a private capital placement priced at $6.05 per share.
- The funds will primarily be used to acquire XRP and establish a digital asset treasury.
- Plans include forming a new Decentralized Finance (DeFi) team and reducing corporate debt.
- Prince Abdulaziz bin Turki Al Saud, a long-term XRP holder, leads this initiative and has become Chairman of VivoPower’s Board of Advisors.
XRP Market Metrics
- XRP trading volume increased by 28.38%, reaching $2.64 billion, while the market cap has declined.
- The coin has shown consolidation between $2.24 and $2.47 over the past week.
- XRP open interest decreased by 0.95% to $4.78 billion, reflecting mixed sentiments among leveraged investors.
Price Movement Observations
- Despite the launch of the CME XRP futures ETF leading to a 45% increase in daily trading volumes, the price of XRP remained unchanged.
- A significant whale purchase of nearly 250 million XRP tokens did not trigger expected price movements.
- Analysts suggest potential for a mid-term breakout despite current stagnation.