The post Ripple News Today: XRP Price Drops Despite VivoPower’s $100M XRP Deployment appeared first on Coinpedia Fintech News
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.
