VivoPower Expands Treasury as XRP Open Interest Rises
In a recent press release, VivoPower International has confirmed plans to scale its proof-of-work mining unit, Caret Digital, securing bulk discounts on additional rigs. Crucially, mined assets will be swapped directly into XRP. This reinforces the company’s strategy of accumulating the token at a favorable cost basis.
This comes after VivoPower announced XRP treasury plans in May. The firm became one of the first publicly traded companies to do this. The firm raised $121 million for its entry and has since pledged to dynamically manage allocations between direct purchases, mining swaps, and equity exposure.
In light of this new institutional activity, the token has gained traction as its open interest surges from recent lows.
The token’s derivatives regain momentum after a sharp decline in August, where open interest slipped 30% to $7.7 billion. According to Coinglass data, the open interest rose to $8.45 billion. This suggests a renewed wave of speculative activity after last month’s liquidation-driven donwturn.
The rebound suggests traders are anticipating volatility, even as the token’s price stays below its recent high of $3.66. Rising open interest is often seen as a sign of growing conviction. This also suggests that the token may regain bullish mmomentum.#Xrp🔥🔥 #XRPRealityCheck $XRP