Key Highlights
- Ripple’s XRP advanced approximately 1.89% to reach $1.51 after briefly falling under $1.47, driven by the Armada Acquisition Corp. II shareholder vote approving the Evernorth merger.
- The newly combined entity is set to debut on Nasdaq trading under “XRPN” and will include the transaction of over 473 million XRP tokens.
- During Q3 2026, XRP posted a 48% increase, marking its strongest third-quarter performance since 2022, despite trading 59% beneath its July 2025 peak of $3.65.
- XRP held on exchanges declined from 12.9 billion to 11 billion tokens starting in April, with approximately 1.6 billion XRP withdrawn from exchanges over the last fortnight.
- Technical charts reveal a symmetrical triangle formation on the four-hour timeframe, with market watchers focusing on $1.54 and $1.70 as critical breakout thresholds.
On September 30, XRP experienced upward price movement following the successful shareholder vote at Armada Acquisition Corp. II, which approved the company’s merger with Evernorth Holdings. Evernorth, which has backing from Ripple, intends to establish a corporate treasury focused on XRP holdings.
The digital asset gained around 1.89% to settle at $1.51. This upward movement followed an earlier decline that saw prices drop below $1.47 while investors awaited the vote outcome.
Price action remained volatile during the trading session. XRP initially reached $1.55 in early trading before pulling back and consolidating between $1.48 and $1.50 for multiple hours.
A midday surge brought prices to $1.54, though momentum weakened, sending the token back toward $1.50. After establishing support at that level, XRP rallied once more to reach $1.51.
Bear Champ, who collaborates with the XRP Ledger ecosystem, posted the voting results on X. “Listened in on the Armada/Evernorth merger vote, it passed,” Bear Champ announced, providing early confirmation to the XRP community ahead of formal announcements.
The merger agreement doesn’t directly impact current XRP token holdings. Rather, it establishes a pathway for Evernorth to become a publicly traded entity with substantial XRP exposure.
The proposed deal involves more than 473 million XRP tokens. Following the completion of final closing procedures, the merged entity will begin trading on the Nasdaq exchange using the ticker symbol “XRPN.”
Record-Breaking Quarterly Performance for XRP
As October begins, XRP reflects on a 48% quarterly gain during Q3, representing its most impressive third-quarter showing in four years. However, the token remains 59% off its record high of $3.65, which was achieved in July 2025.
United States spot XRP exchange-traded funds currently manage approximately 1.16 billion XRP, with a combined value approaching $1.76 billion. These funds have attracted cumulative net inflows totaling roughly $1.68 billion.
Technical analyst Ali Charts shared a chart-based perspective on X, highlighting a significant price threshold for market participants. “XRP appears to be developing a symmetrical triangle on the hourly chart. Now, everything comes down to $1.54,” Ali Charts noted, suggesting that sustained trading above this level might trigger a rally toward $1.70.
Ripple’s annual Swell conference is scheduled for New York between October 27 and 29. Financial markets are also anticipating the Federal Reserve’s policy meeting on October 27-28, with a 64% probability currently priced in for a rate decision.
Historically, October has proven challenging for XRP. The digital asset has averaged a 5.14% decline during October and recorded negative returns in both 2024 and 2025.
Exchange Balances and Technical Indicators
According to Glassnode analytics, XRP tokens held on exchanges have fallen from approximately 12.9 billion to 11 billion since April. In just the past two weeks, roughly 1.6 billion XRP has been withdrawn from trading platforms.
Major holders reportedly accumulated 470 million XRP tokens during a five-day period last week. Simultaneously, Binance’s XRP scarcity metric dropped to its lowest reading since January 2025.
Looking at the weekly timeframe, XRP successfully breached a descending trendline that had constrained price action since the July 2025 high. This breakout was validated by substantial volume during an August candle.
The weekly Relative Strength Index currently registers near 55, positioned above the neutral 50 level, having also broken through its previous downward trajectory. XRP maintains current support within the $1.47 to $1.50 range.
The four-hour timeframe displays a symmetrical triangle pattern, with converging trendlines anticipated to meet around October 3. Immediate resistance is located at $1.59, while support levels are identified at $1.47 and $1.38.
Should this pattern resolve to the upside, technical projections suggest a potential move toward $1.83. Conversely, a downside break could push prices toward $1.17, corresponding to the 0.786 Fibonacci retracement level.
Ripple is also expected to potentially unlock up to 1 billion XRP from its escrow system on October 1, presenting an additional variable for traders to monitor throughout the week.
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