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Ripple News Today: XRP Price Drops Despite VivoPower’s $100M XRP Deployment

Published by
Elena R and Nidhi Kolhapur

Big news for XRP holders — Nasdaq-listed VivoPower International has announced plans to deploy $100 million worth of XRP tokens through the Flare blockchain. The company will use this investment to generate yield, allowing them to earn passive income from their holdings.

This move makes VivoPower one of the first public companies to adopt XRP for treasury operations, following a trend where big firms like MicroStrategy have used Bitcoin in a similar way. What’s even bigger is that VivoPower will also use Ripple’s upcoming USD stablecoin as part of its treasury management system.

For the unversed, while XRP itself doesn’t offer staking like other proof-of-stake blockchains, Flare provides a DeFi platform where assets like XRP can be used to earn yield. This is a huge selling point for institutional investors, who often look for ways to make passive income while holding assets for the long term.

Flare and Ripple both took to social media and announced this partnership, with photos of the signing ceremony.. This deal strengthens the use cases for both XRP and the Flare network, showing more institutional adoption and interest in these projects.

XRP Price Dips

XRP’s price has dropped over 2% in the last 24 hours. Recently, XRP has been moving within a pattern where it climbs for a bit before pulling back. In the current setup, there’s a chance for the price to rise slightly before facing another drop. 

This is based on the way XRP has behaved around certain key levels in the past. If the price hits around $2.40, there could be a rejection from that level, triggering a drop. In that case, it’s possible for XRP to fall back to around $1.86, where it has found support in the past.

FAQs

How might XRP’s recent price pattern influence institutional adoption?

XRP’s recent price volatility, including dips, could deter some conservative institutions seeking stability. However, its overall bullish potential and growing utility, particularly with Flare, might still attract long-term institutional investors.

What impact could VivoPower’s stablecoin adoption have on its treasury stability?

VivoPower’s plan to use Ripple’s USD stablecoin (RLUSD) as its primary cash-equivalent reserve enhances treasury stability. RLUSD offers regulatory compliance, consistent value, and efficient management for its digital assets, aligning with institutional needs.

Elena R and Nidhi Kolhapur

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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