XRP Price Declines Ahead of Evernorth Vote
Ripple XRP price declined 1.27% to $1.52 on Monday, closely tracking a broader market pullback primarily driven by macro anxiety over Middle East tensions and rising Treasury yields.
Data from a cryptocurrency exchange revealed that XRP trading volume inched higher by 54% over 24 hours, with total transaction value hovering above $54 billion on Monday.
XRP price decline was a market response to macro risk-off sentiment, triggered by U.S. rejection of an Iran ceasefire proposal and a 10-year Treasury yield above 5%.
The drop aligns with a 1.44% decline in total crypto market cap. The primary driver was President Trump’s rejection of Iran’s proposal to reopen the Strait of Hormuz, raising oil prices and inflation fears.
This pushed the 10-year Treasury yield above 5%, dampening appetite for risk assets like crypto. XRP moved as part of a correlated risk-off move, not due to its own fundamentals.
Liquidations in XRP totalled $16.05 million in 24h, with longs making up the majority, indicating forced selling from over-leveraged positions.
Technically, price action shows seller pressure near the $1.55–$1.60 zone, with the 50-week Exponential Moving Average around $1.52 acting as a dynamic resistance level.
This means that the dip was amplified by the clearing of speculative bets, while key technical ceilings capped upside.
The immediate path hinges on the $1.50 support and the $1.60 resistance. If XRP holds above $1.50, a retest of $1.60 is likely. A break below $1.50, however, could see a deeper correction toward the next major support near $1.31 (the 20-week EMA).
The key near-term trigger is the release of the Fed’s preferred PCE inflation gauge on September 30, which will shape interest rate expectations. The trend is neutral-to-bearish in the very short term, awaiting a macro catalyst or a technical breakout.
XRP’s modest decline is a symptom of broader market risk aversion, compounded by local leverage washouts. The coin lacks a standalone catalyst but remains within a multi-week consolidation range.
Meanwhile, XRP treasury company Evernorth plans to list on Nasdaq under the ticker XRPN. Shareholders of Armada Acquisition Corp. II will vote on September 30 on the business combination between the two parties.
If approved, it will clear the last major hurdle for Evernorth to trade publicly. Evernorth intends to actively deploy $XRP for yield strategies, infrastructure participation, and capital markets activities. Currently, the company holds about 473 million $XRP, making it one of the largest identifiable corporate holders. In addition,
Evernorth has agreed to refinance $30 million through 4% convertible preferred PIK notes, but the funds can only be accessed after the business combination is approved. Global Crypto Market Cap Dips as Bitcoin Retreats
