XRP breaks above $3 on unexpected treasury announcement

Group 1: XRP Market Performance - XRP surged to over $3, trading at $3.04 with a market cap of $181.8 billion and a 24-hour trading volume exceeding $6.1 billion, reflecting a 3.3% increase in the last 24 hours and nearly 10% rise this week [1] - The bullish sentiment for XRP is attributed to a treasury announcement made on October 1 [1] Group 2: VivoPower's Strategic Shift - VivoPower International announced an additional closing of its $19 million equity raise, priced at a premium of $6.05 per share, aimed at scaling its enterprise and XRP digital asset treasury operations [2] - VivoPower has transitioned into a "digital treasury" firm, positioning XRP at the center of its new strategy to enhance long-term ownership and investment in the XRP Ledger ecosystem [3] Group 3: Institutional Adoption and Market Credibility - The announcement marks a significant move for a Nasdaq-traded corporation to incorporate XRP as a core part of its money reserve policy, potentially enhancing XRP's credibility among institutional investors [4] - Strong messaging for institutional adoption and retail optimism are influencing XRP's near-term price action, with a focus on maintaining a price above $3 [6] Group 4: Technical Analysis - Technical analysis indicates caution, with XRP's rise aligning with Elliott Wave analysis and approaching Fibonacci extension levels of $2.99 to $3.00, suggesting a resistance area [5] - A strong close above $3 could lead to higher Fibonacci targets, with the current price nearly 20% away from its all-time high of $3.84 reached in January 2018 [6]