Ripple Price Forecast: Sellers retain control as Evernorth Holdings files with SEC to buy more XRP

• XRP holds below $1.30 as overhead technical levels weigh on price action.
• Ripple-backed Treasury firm Evernorth Holdings has filed with the SEC to raise $81 million to purchase additional XRP.
• Technically, XRP is at risk of deeper losses as the MACD sustains a sell signal and the RSI nears oversold territory.

Ripple’s (XRP) correction on Monday is deepening below $1.30, reflecting growing headwinds in the broader cryptocurrency market. Based on the token’s technical picture, the path of least resistance could stay downward until the $1.30 supply area flips into support.

Evernorth Holdings targets to expand XRP treasury

Evernorth Holdings (XRPN), a leading digital assets treasury company providing institutional access to XRP, announced on Monday that it had signed a common stock agreement with CF Principal Investments to set up an equity facility of up to 5,218,935 Shares of Class A Common Stock. If fully executed, the equity facility would raise near $81 million at the prevailing market rate for XRPN.

The company plans to use the funds for general corporate purposes, XRP ecosystem development, and to increase XRP treasury holdings. Evernorth said that it will continue to execute its treasury strategy through other committed equity offerings and equity-linked facilities.

“This represents our first step in putting facilities in place to help grow and manage our treasury in an accretive manner for shareholders,” Matt Frymier, Chief Financial Officer of Evernorth, said.

Evernorth is a publicly traded company that provides investors with exposure to XRP through a regulated, liquid and transparent structure. It is one of the world's largest XRP treasuries. It pursues strategies designed to increase the value of XRP per share over time, supported by the institutional and decentralized finance (DeFi) ecosystem.

Technical analysis: Bearish signals persist as XRP falls

XRP trades above, keeping a bearish near-term bias as price holds below the 50-day, 100-day and 200-day Exponential Moving Averages (EMAs) clustered between roughly $1.33 and $1.37. The SuperTrend at $1.45 stays well overhead, reinforcing the idea of a market capped by layered resistance, while the Moving Average Convergence Divergence (MACD) indicator remains slightly negative and the Relative Strength Index (RSI) at 38 suggests weak but not extreme downside momentum.

Initial resistance appears at the 100-day EMA near $1.33, followed by the 50-day EMA at $1.36 and the 200-day EMA at $1.37, forming a dense supply band that bulls would need to reclaim to ease the current pressure. Beyond these, the SuperTrend level at $1.45 and the downward resistance trend line from $1.72 outline higher hurdles, leaving the pair exposed to further downside while it trades below all major dynamic resistance and lacks any clearly defined support level immediately beneath the market.

(The technical analysis of this story was written with the help of an AI tool. Know more.)