TLDR
- The SEC approved Evernorth Holdings’ merger registration with Armada Acquisition Corp II, clearing a step toward a Nasdaq listing under ticker “XRPN.”
- Armada shareholders will vote on the merger on September 30, 2026, the final step before the deal closes.
- XRP price rose more than 3% to trade near $1.42-$1.46, with the coin still holding above its 50-day and 200-day moving averages.
- XRP ETFs pulled in $18.47 million in inflows on Thursday, pushing total inflows to $1.64 billion.
- Technical indicators show XRP facing resistance at $1.46-$1.50, with RSI at 68.82 and MACD flat, while open interest has dropped 2.32% even as long positions stay crowded.
Evernorth Holdings moved closer to becoming a publicly traded company this week. The firm, backed by Ripple, received approval from the U.S. Securities and Exchange Commission for its Form S-4 registration statement.
The approval relates to Evernorth’s planned merger with Armada Acquisition Corp II. Once complete, the combined company will trade on Nasdaq under the ticker “XRPN.”
Evernorth CEO Asheesh Birla called the SEC approval “an important milestone.” He said the company is “one step closer to delivering on our vision” of building a managed XRP treasury.
Armada shareholders are scheduled to vote on the deal on September 30, 2026. That vote is the last step before the merger officially closes.
What Evernorth Plans to Do
Evernorth’s treasury will put its capital into XRP-based infrastructure. The goal is to grow XRP holdings per share over time.
The company plans to work across tokenization, the XRP Ledger, and liquidity for assets like RLUSD. Its investor list includes Arrington Capital, SBI Group, Ripple, Pantera Capital, Kraken, and GSR.
XRPN stock closed at $10.55 on Thursday. That is up almost 3.5% for the year and up more than 1% over the past month.
XRP’s price also moved higher on the news. The token jumped over 3% to reach $1.46, with a 24-hour range between $1.40 and $1.47.
The rally follows a separate report that Goldman Sachs re-entered XRP ETFs and became the largest holder again. XRP has climbed 50% over the past week.
Trading volume dropped 7% over the last 24 hours ahead of options expiry. Even so, institutional demand through ETFs kept building.
XRP’s Technical Picture
XRP was trading at $1.42 as of 07:09 UTC on August 28. The coin sits below its 7-day simple moving average of $1.46, a level that also capped the prior day’s high.
The MACD histogram is flat at zero. RSI sits at 68.82, close to overbought territory.
A daily close above $1.50 would open a path toward $1.63, the upper Bollinger Band level. A break below $1.39 support would point toward $1.36 next.
Retail traders are 71.1% long and top traders are 73.6% long, based on positioning data. The funding rate sits slightly negative at -0.0014%, even with that many long positions open.
Open interest has fallen 2.32% over the past 24 hours. That means some leveraged positions are closing even as spot buying continues.
XRP remains above its 50-day SMA of $1.13 and its 200-day SMA of $1.28. Both key EMAs also sit below the current price.
The post XRP (XRP) Price: Technical Levels to Watch Above $1.46 Resistance appeared first on Blockonomi.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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