XRP Rises as Ripple-backed Evernorth Nasdaq Listing Advances
XRP price rose by 1% to $1.50, slightly trailing a broader market uptick, primarily driven by a positive signal from the Ripple-backed Evernorth listing on Nasdaq and a major institutional partnership in Brazil.
The token’s price movement over the last 24 hours reflects positive sentiment around the expansion of XRP Ledger’s role in regulated financial infrastructure.
Ripple and Brazil’s CSD BR announced a partnership to mirror BTG Pactual fund shares on the XRP Ledger using its Multi-Purpose Token standard.
This marks a significant step in integrating XRPL into a regulated, multi-trillion-dollar financial market, boosting long-term utility narratives.
The deal validates XRP Ledger for real-world asset tokenisation, a key growth area, though the partnership’s direct near-term token demand remains unclear.
Armada Acquisition Corp. II shareholders approved the merger with Ripple-backed Evernorth, advancing plans for a Nasdaq listing that would hold over 473 million XRP.
Concurrently, the total crypto market cap rose 1.39%, with Bitcoin up 1.26%, providing a supportive macro backdrop.
The merger’s progress offers a new public equity conduit for XRP exposure, while the coin’s modest underperformance relative to BTC suggests the move was more catalyst-driven than pure beta.
The immediate technical structure shows key support at the Fibonacci 78.6% level at $1.50, aligning with the swing low at $1.49. Resistance sits near $1.55 (a 127.2% extension), with the yearly ceiling around $1.62.
The scheduled activation of the XRP Ledger’s PermissionDelegationV1_1 upgrade on October 5 could provide a positive catalyst.
The bias is cautiously bullish above $1.49, but the market needs sustained volume to clear overhead supply. A daily close above $1.55 would confirm bullish momentum, or a break below $1.49 could trigger a deeper pullback toward the 200-day average near $1.37.
The combination of a landmark partnership in Brazil and merger approval has provided a fundamental lift, though the price remains within a broader consolidation range.
