XRP has received several developments that would normally sound positive for the cryptocurrency, but the XRP price has refused to follow the news higher. That disconnect has become more noticeable after the latest development involving Evernorth.
Evernorth has moved closer to completing its merger with Armada Acquisition Corp. II, a deal that could create a Nasdaq listed company focused heavily on XRP. The company already holds around 473 million XRP and has backing from several major names connected to the crypto sector.
XRP price, however, has moved in the opposite direction since the Evernorth developments started around August 27. The token is down roughly 5% from that period, and support around $1.30 has become increasingly important.
That creates an interesting question around XRP. Why does positive news repeatedly fail to produce an immediate XRP price rally?
Pro Ripple lawyer Bill Morgan believes the answer may be simpler than some expect.
What you'll learn 👉
Evernorth Deal Could Create a Nasdaq Listed Company Focused on XRP
Evernorth received an important regulatory clearance after the SEC cleared its registration paperwork connected to the proposed merger with Armada Acquisition Corp. II.
The clearance allows the transaction to move toward its next major stage. Armada shareholders are scheduled to vote on the deal on September 30, and shareholders who want to redeem their shares must submit requests by September 28.
Approval would result in the combined company trading on Nasdaq under the XRPN ticker. XRP would become the primary treasury asset behind the business.
Several details make the proposed structure particularly relevant to XRP:
- 473 million XRP already held: Evernorth already owns around 473 million XRP tokens.
- Major companies are involved: Ripple, SBI Group, and Pantera Capital are among the major backers connected to the company.
- Nasdaq listing could follow: Successful completion of the merger would allow the combined company to trade under the XRPN ticker.
- XRP holdings could increase: Evernorth plans to use lending, yield programs, and XRP Ledger DeFi opportunities to expand its holdings.
- Pricing terms have changed: The company moved away from the previous fixed $2.36 structure. Pricing will instead depend on XRP’s average market value when the transaction closes.
The deal could therefore create another connection between XRP and traditional public markets if shareholders approve the transaction.
Still, none of this has been enough to push XRP price higher so far.
So Scams is not saying the news is not positive he is just having a dig at the XRP community that it has not moved XRP price ⬆️
— bill morgan (@Belisarius2020) September 2, 2026
News announcements never have much impact on XRP price. We know that. His post must be directed at XRP community newbies. https://t.co/RZgI5mywwP
XRP Price Has Dropped Around 5% Despite the Evernorth Developments
X user ScamDaddy questioned why XRP remained down despite the Evernorth developments and separate news involving the Bank for International Settlements.
The XRP chart makes that question understandable.
XRP price has fallen roughly 5% since around August 27 despite the developments surrounding Evernorth during that period. The token has recently relied on support around $1.30 to prevent a deeper decline.
That $1.30 area now matters considerably for the broader XRP price structure. Buyers defending the level could keep the current range intact and provide another opportunity for a recovery.
Failure to hold $1.30 would create a different picture. XRP could move toward lower support areas, and stronger selling pressure could eventually expose the $1.10 region.
The weak price reaction does not necessarily mean the Evernorth news is negative. Bill Morgan believes XRP has simply developed a familiar pattern when major announcements arrive.
Read Also: 3 AI Models Predict XRP Price by the End of October
Bill Morgan Explains Why Good News Does Not Always Move XRP Price
Pro Ripple lawyer Bill Morgan responded to ScamDaddy and argued that the post appeared to be aimed more at newer members of the XRP community.
Morgan explained that news announcements rarely have much impact on XRP price, something he believes longtime XRP followers already understand.
His point separates 2 different questions. A development can be positive for XRP or the XRP Ledger without creating enough immediate demand to push XRP price higher.
Several other factors can still determine the short term XRP price direction:
- Bitcoin and the broader crypto market can influence XRP’s direction.
- Existing resistance can prevent buyers from extending a recovery.
- Selling pressure can absorb demand created after positive announcements.
- Derivatives activity can influence short term volatility.
- Broader market liquidity can determine how strongly XRP responds.
Evernorth could become an important corporate XRP holder if the transaction moves ahead. That possibility still does not guarantee an immediate XRP price rally.
The current technical setup demonstrates that problem clearly. Buyers still have several price levels to overcome before XRP can produce a stronger recovery.
XRP Price Could Target $1.46 if Buyers Break the $1.41 Resistance
Our XRP price prediction for today examines the technical setup in greater detail, but several levels are worth mentioning here.
XRP bounced from around $1.30 yesterday and currently trades near $1.36. The recovery has brought the XRP price closer to resistance around $1.41, which remains the main barrier buyers need to overcome.
A confirmed move above $1.41 could open the path toward $1.46. Stronger buying pressure could then extend the recovery toward $1.52.
Three possible scenarios currently stand out:
- Bullish scenario: XRP price breaks above $1.41 and moves toward $1.46. Stronger demand could extend the move toward $1.52.
- Neutral scenario: XRP remains below $1.41 but continues defending major support. The price could remain inside its existing range.
- Bearish scenario: XRP falls below $1.34 and returns toward $1.30. Stronger selling pressure below $1.30 could expose $1.25.
Technical indicators currently provide a mixed picture. RSI remains slightly below the neutral 50 level, Stochastic favors sellers, and MACD remains negative. Bull Bear Power provides a more positive reading and shows buyers retaining some strength.
That leaves XRP price between 2 important areas. Buyers need to clear $1.41 before a stronger recovery becomes more likely, and sellers need to break the nearby support levels before the bearish case strengthens.
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