A name picked by comic readers
The code #AD03DE comes from the xkcd color survey. In 2010 the web comic xkcd showed readers random colors and asked them to type a name for each. The answers came from about 222,500 user sessions. The survey results list 954 common names with one code each, and Vibrant Purple is on that list.
Wikipedia shows another code
Wikipedia's color lists use the same name for #AA00FF, a value taken from the Color-Name.com website. So the site's HEX does not match Wikipedia. The survey color is a little darker and leans a bit more toward pink. On the color wheel it falls between vivid violet and psychedelic purple.
White text on #AD03DE has a ratio of 5.46 to 1, so it passes for normal text. The contrast checker shows how it does with any text color.

