XRP Price Prediction: Evernorth plans to raise $1 billion to build a treasury, XRP surged to $2.55 aiming for $3.0.

Evernorth Holdings Inc., supported by Ripple, announced on Monday, October 20, plans to raise over $1 billion through a SPAC to establish the largest institutional XRP treasury reserve. This news pushed the XRP price to a high of $2.5536. Investor confidence surged significantly, despite the U.S. government shutdown causing delays in the approval of the XRP Spot ETF. However, the XRP price remained strong during this market Rebound, rising 4.47% on October 20 alone. Evernorth's strategic focus is on purchasing XRP and promoting its practical application in payments, Capital Market, and tokenization assets, which may mark a significant turning point in the XRP institutional narrative.

1 billion Dollar institutional treasury exposure: XRP narrative reaches a turning point

Ripple supported Evernorth Holdings Inc. announced a business merger agreement and public listing plan with Amarda Acquisition Corp II (Nasdaq: AACI), triggering a surge in institutional demand for XRP in the market.

· SPAC listing plan: After the merger is completed, the new company will operate under the name Evernorth (Nasdaq stock code: XRPN), focusing on opportunities in the XRP space.

· Luxury investment lineup: According to the official press release, the lineup of investors includes SBI, Ripple, Rippleworks, Pantera Capital, mainstream CEX, and GSR, with Ripple co-founder Chris Larsen and other notable figures from the fintech industry also participating.

· Core strategic objective: Evernorth will use this net revenue to purchase XRP, aiming to establish the largest institutional XRP treasury reserve. This move is not only to accumulate XRP as a reserve asset but also to serve as a long-term catalyst for the adoption and institutionalization of the XRP Ledger.

Evernorth Strategic Vision: Expand the Practical Utility of XRP

Evernorth CEO Asheesh Birla elaborated on the strategy of SPAC, emphasizing that its goals go beyond merely providing exposure to XRP prices.

· Yield generation strategy: Evernorth plans to deploy yield generation strategies utilizing traditional finance (TradFi) and DeFi, while promoting the growth and maturity of the XRP ecosystem.

· Core driver: This approach aims to create returns for shareholders while supporting the utility and adoption of XRP, forming a symbiotic model that aligns with the growth of the XRP ecosystem.

· Application scenario expansion: In addition to building institutional reserves, Evernorth also plans to promote the real-world utility of XRP in payment, capital market, and tokenization assets.

· Former Ripple CTO Joins: Former Ripple Chief Technology Officer David Schwartz will serve as a strategic advisor for Evernorth, assisting in exploring opportunities for XRP in DeFi and Capital Market, further expanding the entire XRP ecosystem.

Price Trend and Technical Analysis: Can XRP Break Through the $2.7 Resistance?

Stimulated by positive news from institutions, XRP on Monday, October 20, rose 4.47%, outperforming the market's increase of 1.62%, with a closing price of 2.4978 USD. However, despite the breakthrough, XRP remains below the 50-day and 200-day exponential moving averages (EMAs), which technically reaffirms the bearish tendency.

(Source: TradingView)

· Key technical resistance: Key resistance levels to watch include the 200-day EMA at $2.6183 and the 50-day EMA at $2.7435, as well as the psychological resistance levels of $2.7 and $3.0.

· Key support levels: The support levels below are at $2.4, $2.0, and $1.9.

Bullish scenario: Challenge 3.0 USD high

· Macroeconomic good news: The U.S. Congress passed a temporary funding bill (Stopgap Funding Bill), ending the government shutdown, or the signing of a trade agreement between China and the U.S.

· Regulatory breakthrough: BlackRock submits S-1 file for iShares XRP Trust, and SEC approves XRP Spot ETF.

· Institutions adopt: Blue-chip companies accumulate XRP as treasury reserve assets and use Ripple technology.

· Licenses and Legislation: Ripple has obtained a US chartered bank license, and the Senate has passed the “Market Structure Bill.”

· Market share expansion: The demand for XRPL in mainstream markets has surged, challenging SWIFT's market dominance.

If these bullish scenarios materialize, XRP is expected to break through 2.7 USD, bringing 3.0 USD back into consideration, and may even pave the way for a challenge to the historical high of 3.66 USD. It is worth mentioning that against the backdrop of advancing institutional applications and integration of cross-border payments, the medium- to long-term potential of XRP is being reassessed. Many investors choose to buy XRP during the correction period 购买 XRP, in anticipation of a new round of price breakthroughs.

Bearish scenario: drop towards 2.0 USD risk

· Institutional attitude is cautious: BlackRock downplays the XRP Spot ETF plan, and blue-chip companies may have limited interest in XRP as a treasury reserve asset.

· Regulatory hurdles: US government shutdown extended, further delaying the launch of the ETF; US Senate challenges the Market Structure Act and other crypto-friendly legislation; OCC delays or denies Ripple's US chartered banking license.

· Competitive pressure: SWIFT maintains its market share in the global remittance field.

These adverse factors may push XRP back to 2.4 USD, and once it falls below this support level, the psychological support level of 2.0 USD will be tested.

Investors need to closely monitor the progress of this trend. Some users prefer P2P selling to maintain privacy, but they should also be cautious of scams. For short-term traders, the Quick Sell XRP feature can help capture the market rhythm.

Conclusion

The news of Evernorth raising 1 billion dollars to establish an XRP treasury has injected strong institutional confidence into XRP, becoming a key driving force for the price rise. However, the fate of the XRP Spot ETF remains uncertain, with its launch time directly affected by the U.S. government shutdown. As the U.S. Senate's vote on the temporary funding bill becomes the focus, decisions in Washington may now be the key to XRP's next breakout, determining whether XRP will reclaim the $3.0 high or retract to the $2.0 support.

Disclaimer: This article is for informational purposes only and does not constitute any investment advice. The cryptocurrency market is highly volatile, and investors should make decisions with caution.