- Ripple locks 200M XRP in escrow, curbing selling pressure.
- XRP trades at $2.98, just 22% below its all-time high.
- Nasdaq-listed VivoPower expands corporate XRP holdings with a $19M raise
Ripple locked 200 million XRP in escrow on Oct. 2, worth nearly $593 million, that was flagged by Whale Alert. The transaction curbed immediate supply and reinforced Ripple’s escrow mechanism, a structure often seen as bullish when XRP approaches key resistance.
XRP Turns Bullish
Historically, large escrow locks have been interpreted as bullish signals since they curb immediate selling pressure and reassure investors that Ripple is committed to maintaining scarcity.
At the time of writing, XRP trades at $2.98, gaining 5% over the past 24 hours. Trading volume has surged 32%, signaling strong market interest.
Related: XRP Price Prediction: Analysts Track $3 Breakout As Futures Interest Cools
As per CoinMarketCap, the token now sits just 22.37% below its all-time high, sparking speculation that another rally may be brewing.
Corporate Adoption Boost: VivoPower Bets Big on XRP
Nasdaq-listed VivoPower International PLC has doubled down on its digital treasury strategy, specifically with XRP at its core.
The company raised $19 million through an equity offering priced at $6.05 per share, a premium above its last close, to expand its XRP holdings.
VivoPower has openly embraced XRP as a long-term treasury asset. Its mining arm, Caret Digital, plans to convert newly mined assets directly into XRP, securing supply at favorable rates.
XRP Price Chart Analysis: Bulls Eye Breakout
The daily XRP chart shows the token trading within a descending triangle formation, with resistance tightening near the $3.00 level.
The upper trendline suggests sellers are gradually lowering prices, while buyers continue to defend the $2.70 support.
Bollinger Bands are contracting, as the RSI sits at 54.09, neutral, but leaning slightly bullish, while the Chaikin Money Flow remains near zero, reflecting balanced inflows and outflows.
If XRP breaks decisively above the $3.15 resistance, momentum could accelerate toward $3.50, with the next target at the all-time high zone above $3.80.
However, failure to hold the $2.70 support could open the door to further downside, with $2.50 as the next key level.
A breakdown here would weaken the bullish case and risk extending consolidation into the final quarter of the year.
Related: Ripple CTO David Schwartz Steps Back, Stays on as CTO Emeritus
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Source: https://coinedition.com/ripple-locks-200m-xrp-as-bulls-eye-3-breakout/