Key Insights:
- XRP price is supported above $3, following the formation of a double bottom, and it remains in a great position for a breakout.
- CRYPTOWZRD sees a run above $3.65, potentially setting off a rally for $4.60-$4.70.
- VivoPower’s discounted offering of XRP and Ripple equities provides institutional demand and long-term market confidence.
XRP is trading at $3.04 after reaching $3.90 earlier this month. The token holds steady regardless of profit-taking and market movements. Their strong institutional interest and bullish chart patterns provide a strong case with the latest XRP news from VivoPower adding to the positive sentiment.
XRP Price Consolidation Above Important Support
XRP Price consolidates after a strong rally between support and resistance. Analyst BitGuru noted that a double bottom pattern was responsible for the latest breakout to $3.90. After the rejection, the token is settling close to $3.59 above the support zone of $3.00.
BitGuru emphasized that holding $3 is crucial for the next bullish phase. High consolidation over this level could lead to a breakout towards $3.65 and $4.20. His chart highlighted the XRP price as trying to pull back and stay within a range favoring further gains. This stability signals strong market confidence and solid demand, keeping XRP news positive for traders.
Technical Outlook Strengthens Breakout Prospects
Furthermore, analyst CRYPTOWZRD added weight to the bullish scenario with a comprehensive technical chart. He noted that the XRP price closed slightly higher while maintaining daily support. According to his analysis, a breakout above $3.65 could initiate a rally towards $4.60 to $4.70.
His chart illustrated a potentially bullish breakout of the lower high on the channel. He also identifies macro developments, such as the FOMC determination, that can introduce short-term volatility. CRYPTOWZRD believed that holding above $3.132 is crucial for triggering the next wave of buying pressure and sustaining the uptrend in XRP price.
VivoPower Expands XRP Exposure and Treasury Strategy
Meanwhile, new XRP news also showed increasing institutional participation. VivoPower International confirmed that its subsidiary Caret Digital will expand the mining operations and convert mined tokens to XRP. The company seeks to attract exposure via token purchases at a sufficient 65% discount on Ripple Labs equity Trading.
This strategy got a jump start in May with a private placement of $121 million, supported by Prince Abdulaziz bin Turki bin Talal Al Saud. VivoPower has since signed agreements to buy $100 million of Ripple Labs equity, translating to about 211 million XRP at an implied cost of $0.47 per token.
More so, partnerships with BitGo, a $100 million yield initiative, and Flare demonstrated the company’s intent to incorporate XRP into treasury and yield-generating activities. This acts as a strong long-term support for the XRP price.
Increasing Open Interest Indicates Market Trust
VivoPower’s increasingly vital role is also transforming general market activity. Its electric vehicle unit, Tembo, now accepts Ripple’s RLUSD stablecoin, while a $30 million pilot with Doppler Finance will deploy XRP into structured yield pools. This program could increase to a maximum of $200 million, creating a reliable demand for XRP with positive XRP news.
Open interest of XRP derivatives has also skyrocketed to $8.45 billion compared to August’s $7.7 billion. This rebound follows a 30 % liquidation-driven drop and signals renewed trader confidence.
Ultimately, analyst John Squire indicated that the discounted accumulation of VivoPower might be one of the possible supply shocks that would increase the prices.
Moses K is a crypto journalist covering markets, regulation, and blockchain trends. He has written for The Coin Republic, Coinchapter, Cryptopolitan, Cryptotale, Coinspeaker, and MPost. Known for his concise, data-driven reporting, Moses focuses on price analysis, on-chain metrics, and policy developments shaping the global digital asset landscape.
