Ripple Price Forecast: Sellers maintain their grip as Evernorth Holdings submits SEC filing to buy more XRP

• $1.30 remains out of reach for XRP. Overhead technical resistance continues to constrain price action.
• An SEC filing by Ripple-backed treasury company Evernorth Holdings outlines plans to raise $81 million for further XRP purchases.
• Further technical downside threatens XRP, with the MACD maintaining its sell signal and the RSI approaching oversold levels.

$1.30 remains above Ripple’s (XRP) price on Monday. The correction is intensifying as headwinds build across the cryptocurrency market. The token’s technical outlook suggests the downside could remain the path of least resistance until the supply zone at $1.30 becomes support.

$81 million equity facility targets larger Evernorth Holdings XRP treasury

Up to 5,218,935 Shares of Class A Common Stock would underpin an equity facility agreed between Evernorth Holdings (XRPN) and CF Principal Investments. Evernorth, a leading digital asset treasury company offering institutional access to XRP, announced the common stock agreement on Monday. Full execution of the facility would generate nearly $81 million at XRPN’s prevailing market rate.

Proceeds are earmarked for general corporate purposes, development of the XRP ecosystem and additional XRP treasury holdings. Alongside this facility, Evernorth said it would maintain its treasury strategy through other committed equity offerings and equity-linked facilities.

Matt Frymier, Chief Financial Officer of Evernorth, said: “This represents our first step in putting facilities in place to help grow and manage our treasury in an accretive manner for shareholders,”

Through a regulated, liquid and transparent structure, publicly traded Evernorth offers investors exposure to XRP. The company ranks among the world’s largest XRP treasuries. Supported by the institutional and decentralised finance (DeFi) ecosystem, its strategies aim to grow XRP value per share over time.

38 RSI reading: XRP technical outlook remains bearish

Trading above, XRP retains a bearish short-term bias. Its price remains beneath the 50-day, 100-day and 200-day Exponential Moving Averages (EMAs), which converge at roughly $1.33 to $1.37. Further overhead, the SuperTrend at $1.45 adds to the multiple layers of resistance limiting the market. The Moving Average Convergence Divergence (MACD) indicator is still slightly negative. A Relative Strength Index (RSI) reading of 38 points to weak, though not extreme, downside momentum.

Near $1.33, the 100-day EMA marks the first resistance hurdle. The 50-day EMA at $1.36 and 200-day EMA at $1.37 follow, creating a concentrated supply zone that buyers must recover to relieve the prevailing pressure. Higher obstacles comprise the SuperTrend at $1.45 and the descending resistance trend line originating at $1.72. With no clearly defined support immediately below the market, the pair remains vulnerable to additional losses while trading beneath all major dynamic resistance levels.

(The technical analysis of this story was written with the help of an AI tool. Find out more.)