VivoPower’s Whimsical $121M XRP Adventure: A Tale of Treasure and Triumph!

by

Oh, gather ’round, dear readers, for a tale of wonder and woe! VivoPower International PLC (NASDAQ: VVPR) has just pulled a rabbit out of a hat, raising a whopping $121 million by selling 20 million ordinary shares! And who, you ask, is the grand wizard behind this magical funding? None other than His Royal Highness, Prince Abdulaziz bin Turki Abdulaziz Al Saud! Yes, you heard it right! The prince himself, along with a few other curious characters like Adam Traidman, the former Ripple board member and CEO of SBI Ripple Asia, decided to sprinkle some fairy dust on this venture. 🧙‍♂️✨

But wait, there’s more! This treasure trove of cash is destined for a most peculiar purpose: to purchase XRP! That’s right, folks! VivoPower is on a quest to become the very first publicly traded company to adopt this cryptocurrency as its treasury management asset. Why, you ask? Well, it seems the U.S. SEC has declared XRP a strategic asset, ready to help the United States with its grand Bitcoin reserve plan. Talk about a royal endorsement! 👑💰

And if you think that’s the end of the story, think again! XRP is poised to grow like a beanstalk in the coming months, especially with the Ripple vs SEC case nearing its grand finale. Not only will VivoPower invest directly in XRP, but they’ll also be lending a helping hand to DeFi projects on the XRPL chain. It’s like a fairy tale where everyone gets a golden ticket! 🎟️🌟

“We have been investors in the digital asset sector for a decade and have been long-term holders of XRP. After reviewing a number of listed vehicles seeking to embrace a digital asset treasury model, we selected VivoPower given its strategic focus on XRP and its objective to contribute to building out of the XRPL ecosystem,” Prince Abdulaziz noted. Well, isn’t that just delightful? 🥳

Expected Impact on the XRP Market

Now, let’s talk about the ripple effect (pun intended!) this XRP treasury fund will have on the altcoin market. With VivoPower’s grand plans, the demand for XRP among institutional investors is skyrocketing, especially after the recent crypto regulatory clarity in the United States. It’s like a stampede of bulls charging into a candy store! 🍬🐂

As Coinpedia reported, several fund managers are itching to offer spot XRP ETFs in the United States, and they’re hoping for a big thumbs up by the end of this year. But hold your horses! From a technical analysis standpoint, XRP’s price didn’t jump for joy immediately after the announcement. It seems the impact is more of a slow burn. The large-cap altcoin, with a fully diluted valuation of about $225 billion and a 24-hour average trading volume of around $2 billion, took a little tumble, dropping around 3 percent to trade at about $2.26 on Wednesday. Oh, the drama! 🎭📉

Read More

2025-05-29 01:22