ViVoPower’s XRP Treasury: A Comedy of Errors in Crypto

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In a most curious turn of events, ViVoPower, that plucky little company, has recently decided to dip its toes into the turbulent waters of cryptocurrency, specifically the Ripple-associated XRP. Currently, this digital darling is trading at a rather unimpressive $2.28, which, if my calculations are correct, represents a 0.70% drawdown over the last 24 hours. One might say it’s a classic case of “all sizzle, no steak.” 🍽️

Vivopower raises $121 million to acquire XRP

On the fateful day of May 28, 2025, Nasdaq-listed VivoPower International boldly proclaimed itself the pioneer of the world’s first XRP-based crypto asset treasury strategy among publicly listed companies. This audacious move followed a rather cozy agreement with certain investors, who, for reasons known only to them, decided to buy in at a princely sum of $6.05 per share. One can only imagine the conversations over tea that led to such a decision! ☕

In a stroke of luck, ViVoPower managed to secure a staggering $121 million in a private placement, led by none other than Prince Abdulaziz bin Turki Abdulaziz Al Saud of Saudi Arabia. Most of this windfall is earmarked for acquiring XRP and establishing a digital asset treasury. Ah, the joys of modern finance! Among its other grand plans is the formation of a new Decentralized Finance (DeFi) team, because why not add more acronyms to the mix? 🤷‍♂️

ViVoPower also has the audacity to claim it will reduce its corporate debt while expanding its blockchain infrastructure. Prince Abdulaziz, a long-time XRP holder, seems to have faith in ViVoPower’s mission to contribute to the XRP Ledger (XRPL) ecosystem. “We are honored to be leading this capital raising for a company that will be the first in the world to execute an XRP-focused treasury strategy,” he declared, presumably while donning a crown. 👑

XRP metrics show no sign of excitement

Despite this grandiose strategy, the XRP metrics are about as thrilling as watching paint dry. The expectation was that this would bring the coin a whole new traction, but alas, it appears to be stuck in a rut. Traidman, the former Ripple board member now gracing the title of Chairman of VivoPower’s Board of Advisors, noted that this move sets XRP up for deeper integration in financial infrastructures. One can only hope it’s not too deep! 🏊‍♂️

Meanwhile, XRP has decided to take a leisurely stroll downwards, down by 0.70% in the past 24 hours and about 4% for the week. The coin has stubbornly refused to budge past the $2.24 and $2.47 marks. According to CoinMarketCap, its trading volume is up by 28.38%, at $2.64 billion, but the market cap seems to be on a diet, shedding losses to match the price trend. 📉

While the volume has dropped, data from CoinGlass reveals that the XRP open interest recorded a 0.95% dip to $4.78 billion. This suggests that leveraged investors are exhibiting mixed sentiments, which is just a fancy way of saying they’re as confused as the rest of us. 🤔

XRP price remains unmoved

Beyond the ViVoPower spectacle, XRP has failed to gain any momentum in recent days, despite the sustained signs of adoption growth. A week ago, the successful launch of the CME XRP futures ETF resulted in a 45% increase in daily trading volumes, yet the price remained as stagnant as a pond in mid-summer. The lack of a corresponding reaction has left investors feeling rather deflated. 🎈

In a twist of fate, a whale decided to purchase nearly 250 million XRP tokens, valued at over $500 million. Yet, the XRP price remained unmoved, much to the chagrin of analysts who are now wringing their hands in concern. However, there is a glimmer of hope, as some project a potential breakout for the coin in the mid-term. Fingers crossed! 🤞

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2025-05-29 16:23