TLDR

  • XRP is fluctuating in the $1.46-$1.51 range, slipping 1-2% in the last day.

  • Derivatives data from CoinGlass reveals short positions are currently outpacing longs, even as funding rates hold marginally positive.

  • Key support zones lie at $1.46-$1.48, while resistance barriers appear at $1.54-$1.56 and the late-September peak around $1.65.

  • One billion XRP tokens were unlocked from Ripple’s escrow wallet on October 1.

  • Evernorth and Armada’s planned Nasdaq debut under ticker XRPN, originally scheduled for October 8, has been postponed without a new date.

XRP continues to hover around the $1.50 mark throughout this week. Current pricing sits in a narrow corridor between $1.46 and $1.51, registering a modest 1% to 2% decline across the past 24-hour period, varying slightly by the time of observation.

CoinGlass derivatives metrics indicate a long-to-short ratio currently standing at 0.85. This figure signals that short exposure is exceeding long positions among monitored trading accounts.

Meanwhile, funding rates have remained in positive territory at 0.0097%. This reflects a minor fee being paid by long position holders to short sellers—a tepid indicator that doesn’t suggest strong bullish momentum.

Exchange-traded fund activity also continues to factor into XRP’s market dynamics. Aggregate XRP ETF inflows have reportedly reached $1.8 billion, including $121.4 million that flowed in during September.

Additionally, Ripple executed its monthly escrow unlock of 1 billion XRP on October 1. This scheduled release doesn’t necessarily mean those tokens have entered active circulation or been liquidated.

Technical Outlook and Price Targets

Immediate support levels are concentrated in the $1.46 to $1.48 zone. On the upside, resistance is positioned between $1.54 and $1.56, with the September high around $1.65 representing the subsequent hurdle.

XRP is currently trading above its 50-day, 100-day, and 200-day exponential moving averages, which are bunched together in the $1.33 to $1.40 range. The Relative Strength Index sits around 56, indicating neutral to slightly positive momentum.

The analyst account XRP Update highlighted surging ETF trading activity, noting more than $30 million in volume with Bitwise and Franklin Templeton driving much of the session’s action. The post characterized this as evidence of expanding institutional participation in XRP markets.

$XRP ETF ACTIVITY IS HEATING UP. 🔥

Over $30M in trading volume, with Bitwise and Franklin Templeton leading the session.

THE INSTITUTIONAL XRP MARKET KEEPS GETTING BIGGER. 🌐📈 pic.twitter.com/1sHkp8uj5W

— XRP Update (@XrpUdate) October 7, 2026

The same account separately shared a longer-term technical outlook suggesting a potential $50 price target based on monthly chart formations, which would theoretically push XRP’s market capitalization toward $3 trillion if realized.

$XRP HAS A $50 TARGET ON THE BOARD.

This monthly structure is projecting something massive.

$50 XRP ➝ ~$3T MARKET CAP
IF THIS PLAYS OUT… ABSOLUTE CINEMA.💥📈 pic.twitter.com/nvGXcA3iWv

— XRP Update (@XrpUdate) October 7, 2026

Evernorth-Armada Nasdaq Launch Postponed

The merger between Evernorth and Armada Acquisition Corp. II was originally scheduled to close on October 7, with shares anticipated to begin trading under the XRPN ticker symbol on Nasdaq starting October 8. That timeline has now been pushed back.

Due to an administrative delay that is not expected to affect the closing, we now expect to close on Friday, October 9th, with XRPN expected to start trading on Nasdaq on Monday, October 12th, in each case subject to customary closing conditions and Nasdaq listing requirements.…

— evernorthxrp (@evernorthxrp) October 6, 2026

The postponement stems from outstanding procedural requirements that must be satisfied before the business combination can be finalized. Neither company has announced a revised listing date.

Upon completion, Evernorth is projected to control 473 million XRP tokens and secure approximately $300 million in cash. Based on XRP’s recent trading price of $1.51, the company’s XRP holdings would be valued around $714 million.

Shares of Armada surged roughly 273% during the week preceding the delay announcement.

Veteran trader Peter Brandt has identified $1.70 as a potential breakout level tied to a cup-and-handle pattern formation, while emphasizing this represents a technical setup rather than a certainty.

According to pivot analysis from October 7, the central pivot point rests near $1.485, with immediate support extending downward to approximately $1.454.


The post XRP Hovers Near $1.46 as Short Positions Dominate and Nasdaq Listing Postponed appeared first on Blockonomi.