Vivopower is the latest corporation to launch a crypto-based treasury strategy, with a $100 million investment in Ripple, which favors a bullish XRP price prediction.
Founded in 2014, this company specializes in building a specific type of electric vehicle for the mining industry and solar energy solutions that power crypto mining operations.
In May this year, they launched a private placement to raise more than $120 million to invest in XRP (XRP) as part of a treasury strategy.
The company partnered with Bitgo for the acquisition and custody of these XRP tokens. As a result, VivoPower has become a ‘de facto’ vehicle through which investors in the United States can acquire XRP indirectly.
Similar to what Strategy did with Bitcoin (BTC), VivoPower’s share price will progressively perform more similarly to XRP as this treasury increases in size.
Meanwhile, the company announced today a partnership with the crypto staking platform Flare to launch a wrapped version of XRP that generates yield on its investment. All of the proceeds earned from this initiative will be reinvested to further increase the XRP fund.
This favors a bullish XRP price prediction as it will create a significant source of ongoing demand for the asset.
XRP Price Prediction: Path to $10 Seems Paved
XRP (XRP) has gone up by 1.4% in the past 24 hours and has once again hit a ceiling at around $3.35 and has been retreating off that level since Friday.
The price could now head to the $3 area once again to find the necessary liquidity for its next leg up. We could expect a breakout to $3.5 in the near term fueled by the positive momentum that cryptocurrencies have been experiencing lately.
The path seems pretty straightforward for a move toward $4 and these kinds of announcements support a long-term bullish XRP price prediction as institutional adoption of blockchain technology and cryptocurrencies as financial assets keeps accelerating.
Hitting $10 this year isn’t out of the question for XRP.
If momentum keeps building and corporations like VivoPower keep pouring in hundreds of millions, the buying pressure could be enough to push Ripple’s native asset to that milestone before the year is out.
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Click Here to Participate in the PresaleThe post XRP Price Prediction: $100M Ripple + XRP Bet From Nasdaq Firm – Is $10 XRP Now Inevitable? appeared first on Cryptonews.
