XRP Price Rises 2% as Evernorth Boosts Holdings to $1B

The XRP price has surged 2% in the last 24 hours to trade at $2.62, on a 21% increase in the daily trading volume to $4.88 billion.

That price jump comes as Ripple-backed Evernorth expanded its XRP holdings to over $1 billion. On-chain data shows Ripple sent the firm more than 338 million XRP, with more coming from Uphold, Coinbase, Gemini, and top investors like Chris Larsen. Larsen added 50 million XRP to the deal, pushing his profits this year to more than $750 million.

Evernorth has invested about $947 million into XRP and now holds over $45 million in unrealized profit. Led by former Ripple executive Asheesh Birla, the company plans to keep buying more XRP.

The firm also shared plans to list on Nasdaq through a merger with Armada Acquisition Corp II under the ticker XRPN. It aims to raise over $1 billion from major backers, including SBI, Ripple, Kraken, and Pantera Capital. The move could make Evernorth the largest XRP treasury firm and has boosted confidence across the XRP community.

XRP Price Breaks Bearish Trend as Price Targets Strong Upside

XRP is gaining attention again after a strong price recovery that followed several weeks of decline. The price has moved up to $2.62. Higher volume usually shows growing interest from traders and investors, which often helps a rally continue. This renewed momentum suggests that buyers are taking control again after a period where sellers dominated.

A key technical development on the chart is the clear breakout from a bearish channel that started in August. Inside that channel, XRP kept making lower highs and lower lows, showing a slow and steady downtrend. Recently, the price bounced strongly from the $2.20 support zone and pushed above the top of the channel. That move signals a bullish reversal, meaning the trend may now be shifting upward instead of downward. Traders often look for such breakouts as a sign of possible new gains.

XRPUSDT Analysis Source: Tradingview

Right now, XRP is testing an important resistance level between $2.65 and $2.70. This area has stopped price growth before, so a strong daily close above it would be a positive sign. If buyers manage to break and hold above this zone, the next target could be around $3.00 and later near $3.50. The $3.50 level matches earlier price resistance and lines up with the expected move based on the size of the breakout from the bearish channel.

The RSI indicator, which measures momentum, sits just above 50. That shows improving strength but also indicates XRP still has room to rise before becoming overbought. When momentum climbs in this way, it often supports further gains if buying pressure stays strong.

If XRP can remain above the nearby support at $2.45 and keep pushing upward, the bullish outlook will get stronger. The key risk remains a drop back under $2.20, which would weaken the recovery signal. For now, the trend looks more positive, and traders are watching closely for a confirmed breakout that could send XRP toward higher price levels in the weeks ahead.