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XRP is currently trading at $2.29, reflecting a 1.1% drop in the past 24 hours and a decline of over 4% for the week. The token appears to be consolidating within a range of $2.24 to $2.47 over the last seven days. In the past 24 hours, XRP’s trading volume increased by 6%, reaching $2.16 billion.

XRP Market Overview

According to derivatives data, XRP’s volume surged by 20.2% to $3.95 billion, while open interest dipped by 0.95% to $4.78 billion. This suggests a mixed sentiment among leveraged traders, as some remain cautious while others take advantage of market activity.

VivoPower’s XRP-Focused Strategy

A significant announcement from Nasdaq-listed energy firm VivoPower has drawn attention to XRP. On May 28, VivoPower revealed it had raised $121 million through a private share offering led by Saudi Prince Abdulaziz bin Turki Abdulaziz Al Saud. This marks the first publicly traded company to adopt an XRP-focused treasury reserve strategy.

The offering involved the sale of 20 million shares at $6.05 each, slightly above the prior closing price. Following the announcement, VivoPower shares surged 26% before stabilizing at $6.75, representing an 11% daily gain.

“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,” said Prince Abdulaziz.

Kevin Chin, VivoPower’s Executive Chairman, also expressed optimism, highlighting a shared long-term vision with the XRP community. The move has been praised by industry insiders, including former Ripple board member Adam Traidman, who recently joined VivoPower as Chairman of the Board of Advisors.

Technical Analysis: XRP’s Price Action

Despite the positive news, XRP’s price has shown limited upward momentum. Technical indicators suggest a short-term neutral-to-bearish outlook. The Relative Strength Index (RSI) currently stands at 46, placing it in neutral territory. Meanwhile, the Moving Average Convergence Divergence (MACD) has turned slightly bearish, signaling potential downward pressure.

Most moving averages, particularly the 10–30 EMAs and SMAs, are signaling a sell. However, longer-term indicators, such as the 100- and 200-day SMAs, remain above current price levels, suggesting that bullish sentiment has not completely faded.

Key Levels to Watch

  • Resistance: If XRP breaks above $2.40 with strong volume, it could retest the upper range at $2.47 and potentially aim for $2.60 in a bullish scenario.
  • Support: A drop below $2.24 could see XRP testing the $2.10 support level if selling pressure intensifies.

Market Sentiment and Future Outlook

The entry of organizations like VivoPower into the XRP ecosystem underscores growing institutional interest in the token. Additionally, many investors are closely monitoring upcoming rulings from the Securities and Exchange Commission (SEC) on XRP-related ETFs, which could significantly influence market sentiment.

While the current price movement indicates caution, the broader adoption of XRP by companies like VivoPower highlights its potential as a key player in the cryptocurrency space. Investors should remain vigilant and keep an eye on critical developments in both the technical and regulatory landscapes.

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