XRP is currently trading at $1.36 after experiencing a significant 6.91% decline over seven days, according to CoinGecko market data. The cryptocurrency has broken below its $1.40 resistance level and remains 3% beneath the critical technical level, with the token holding a market capitalization of around $86.06 billion and ranking fifth among digital assets. During the latest daily session, XRP traded around $1.36313 after opening at $1.36480, briefly reaching $1.38518 before retreating, with daily trading volume reaching approximately $1.72 billion and a 24-hour decline of 0.13%. The price movement represents a notable breakdown from the higher price range, with the $1.43 level now serving as the first recovery hurdle. Analysts have identified $1.35 as immediate support, followed by stronger buying areas between $1.30 and $1.32, while a sustained decline below $1.30 could expose the $1.20–1.25 region.
Despite the weak price structure, exchange data has shown an increase in whale-related activity on Binance. According to CryptoQuant analyst Amr Taha, Binance's seven-day average whale-to-retail outflow spread increased from 53% on October 7 to 63.5% on October 13, representing a 10.5 percentage point increase over six days. The metric compares large and small exchange withdrawals, with Binance's spread increasing approximately 6.2 times faster than the combined exchange market reading. However, Santiment reports indicate that XRP recorded 0.92 bullish comments for every bearish comment across X, Reddit and Telegram, placing the cryptocurrency in negative sentiment territory with bearish discussion exceeding positive commentary. The firm linked XRP's negative sentiment to its recent price decline, leveraged position liquidations and repeated difficulty recovering above $1.40.
Technical indicators continue to show selling pressure near $1.40, with the Awesome Oscillator standing at -0.06068 with red histogram bars below the zero line, showing weaker short-term momentum compared with the longer-term price trend. The daily chart's Balance of Power indicator stands at -0.07, suggesting that selling activity slightly exceeded buying pressure during the measured period. Chart analysis shows $1.35 as the nearest support level, followed by stronger buying areas between $1.30 and $1.32, with a sustained decline below $1.30 potentially exposing the $1.20–1.25 region where previous trading activity suggests buyers may attempt another recovery. On the upside, reclaiming $1.40 would provide early indication of improving market conditions, followed by resistance near $1.45, followed by the $1.50–1.60 region that limited earlier rallies. Analyst EGRAG Crypto outlined bearish and bullish scenarios, with potential downside levels at $1.13 and $1.00 if current consolidation fails, while recovery targets include $2.10 and extended projections reaching $17.60 and $60.
Evernorth entered Nasdaq holding approximately 473 million XRP, worth around $677 million at Monday's closing price, significantly below the $1 billion funding figure initially reported. The company also reported roughly $300 million in gross cash proceeds before expenses, as detailed in the latest SEC filings. However, the listing does not automatically create fresh buying pressure for XRP, as buying XRPN shares on Nasdaq does not directly trigger purchases of the cryptocurrency. According to CoinDesk, SEC filings reveal that holders of 80.3% of the SPAC's redeemable shares had already chosen to cash out before the merger, indicating limited institutional confidence in the structure. The company named Hugo Jeandesboz, formerly co-chief investment officer at Coinbase Asset Management, to lead the XRP strategy on Monday, October 12, introducing execution risk alongside the obvious XRP exposure.
CEO Asheesh Birla announced plans to deploy capital across the XRP economy, supporting infrastructure and use cases that expand XRP's utility, with increasing the number of XRP held per share as a key treasury strategy. According to CoinDesk, the bigger question remains how Evernorth will use its capital to support XRP prices. New XRP purchases could create demand and support prices, while strong demand for XRPN shares could help Evernorth raise additional capital to expand its treasury. However, sustained weakness in the stock could make fundraising harder, leaving XRP's direction tied more closely to broader crypto market conditions. The company's $300 million in gross cash provides a separate capital pool, but the figure is before transaction expenses and does not eliminate the valuation sensitivity of a treasury dominated by XRP. The current chart structure places $1.35 and $1.40 at the center of the short-term outlook, with analysts suggesting that losing the lower level could extend the correction, while reclaiming the upper level would give buyers an opportunity to challenge $1.45.
