Today XRP saw an interesting fork-like trading scenario: the price fell, yet institutions were adding to their positions.
Evernorth Holdings’ S-4 registration became effective today after the SEC announced it. This Ripple-backed XRP treasury company has officially received the green light to complete a SPAC merger and list on Nasdaq, with the shareholder vote set for September 30.
Meanwhile, the week’s net inflow into XRP ETFs hit the highest level in seven months, indicating that institutional demand is genuinely there.
However, on the price side, XRP is down 5% today, breaking below 1.40, and is currently consolidating around 1.36. The main pressure came from Jackson Hole: Fed Chair Warsh’s hawkish remarks hit the entire market, derivatives liquidations totaled over $360 million, and XRP futures’ funding rate has also dipped slightly into negative territory—short-term bears have a slight edge.
At this level, 1.36 is support near the recent lows, while 1.47 is resistance near the 24h high. Institutions are leaning long, but near-term macro factors are pressuring the market. This kind of divergence is often a signal that the market is waiting for direction to be confirmed.
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$XRP
Evernorth Holdings’ S-4 registration became effective today after the SEC announced it. This Ripple-backed XRP treasury company has officially received the green light to complete a SPAC merger and list on Nasdaq, with the shareholder vote set for September 30.
Meanwhile, the week’s net inflow into XRP ETFs hit the highest level in seven months, indicating that institutional demand is genuinely there.
However, on the price side, XRP is down 5% today, breaking below 1.40, and is currently consolidating around 1.36. The main pressure came from Jackson Hole: Fed Chair Warsh’s hawkish remarks hit the entire market, derivatives liquidations totaled over $360 million, and XRP futures’ funding rate has also dipped slightly into negative territory—short-term bears have a slight edge.
At this level, 1.36 is support near the recent lows, while 1.47 is resistance near the 24h high. Institutions are leaning long, but near-term macro factors are pressuring the market. This kind of divergence is often a signal that the market is waiting for direction to be confirmed.
Click the small card below to quickly check the行情
$XRP
