XRP Nears $1.40 as Evernorth Delays Nasdaq Debut

Key Takeaways

• XRP fell to $1.40 on October 8 as broader crypto selling and rising Treasury yields continued to pressure prices.
• Evernorth postponed its expected Nasdaq debut under XRPN to October 12, while XRP ETFs recorded $3.14 million in recent net inflows.
• XRP must defend $1.40 to avoid a deeper correction toward $1.37 and $1.32, while reclaiming $1.4850 could improve short-term momentum.

XRP continued to decline on October 8, trading above the $1.40 level as selling pressure pushed the cryptocurrency closer to the key $1.40 support level. 

The latest move extended losses from the previous session, when XRP fell nearly 5% amid rising US Treasury yields, leveraged liquidations, and broader weakness across the crypto market.

The decline has brought XRP closer to a potential breakdown, with buyers struggling to recover the $1.45 level after the token previously traded above $1.50. However, institutional investment flows have remained relatively resilient, with US spot XRP exchange-traded funds (ETFs) recording $3.14 million in net inflows on October 6 despite the market weakness.

Investors are also monitoring Evernorth Holdings, the Ripple-backed XRP treasury company that postponed its expected Nasdaq debut under the ticker ‘XRPN’ from October 8 to October 12.

With the price now less than one cent above $1.40, holding that level has become increasingly important. A sustained breakdown could expose lower support near $1.37 and $1.32, while a recovery above $1.45 and $1.4850 would signal easing selling pressure.

XRP Price Drops Toward $1.40 as Crypto Market Selling Continues

XRP’s latest decline follows several days of weakening momentum after the token failed to hold above $1.50.

On October 7, XRP traded near $1.42 after recording a 4.77% decline over 24 hours. Its market cap fell toward $90.3 billion, while trading volume increased approximately 77% to $3.1 billion.

By October 8, XRP had weakened further to $1.40, near the psychological support level.

The decline also occurred alongside weakness in Bitcoin and Ethereum, suggesting selling pressure was not limited to XRP.

Bitcoin fell below $83,000, while Ethereum retreated below $2,600 during the broader market correction.

However, XRP faces additional uncertainty from the delayed Evernorth listing and changing institutional demand, making the next several trading sessions important for its near-term direction.

XRP’s technical outlook has weakened as the price approaches $1.40, with the latest decline pushing the cryptocurrency below several key recovery levels.

The move from approximately $1.50 to $1.4081 has left buyers with little room to absorb additional selling before the market tests its next support region.

XRP Price Analysis: Key Support and Resistance Levels

The immediate support level is $1.40, which has become the most important price to defend following the latest decline. XRP is trading just above that threshold, meaning even a small downward move could trigger another test.

A brief decline below $1.40 would not necessarily confirm a bearish breakdown. However, a sustained move below that level, particularly if XRP fails to reclaim it, would suggest buyers are struggling to absorb selling pressure.

The next support area sits between $1.37 and $1.38.

If that region fails, XRP could extend its decline toward $1.32, followed by the broader demand zone around $1.27 to $1.28.

On the upside, XRP must first reclaim $1.42, followed by the $1.44 to $1.45 region that previously acted as short-term support.

A recovery above $1.45 would indicate that buyers are beginning to regain some control, although it would not be enough to confirm a stronger bullish reversal.

The next important resistance level remains $1.4850. A daily close above that price would improve XRP’s short-term technical structure and create an opportunity to challenge the $1.50 to $1.55 region.

A more convincing recovery would require a breakout above $1.596 to $1.63, which could open the path toward $1.65 and potentially $1.70.

Table 1. XRP Key Support and Resistance Levels

The $1.40 support level is now the main reference for XRP’s immediate direction.

Holding above it could allow the cryptocurrency to consolidate before another recovery attempt, but continued trading near the lower boundary increases the risk that sellers will eventually test deeper support.

A recovery above $1.45 would ease some immediate pressure, while a move beyond $1.4850 would provide stronger evidence that buyers are regaining momentum.

Rising Treasury Yields and Liquidations Pressure XRP

Macroeconomic conditions have been an important factor behind XRP’s recent weakness.

On October 7, the US 30-year Treasury yield reportedly climbed toward 5.72%, reaching a level not seen in approximately 24 years.

The increase reflected growing concerns about inflation, borrowing costs, and the possibility that US interest rates could remain elevated.

Higher government bond yields can make relatively safer investments more attractive, reducing demand for volatile assets such as cryptocurrencies.

The latest selling also followed the release of the Federal Reserve’s September meeting minutes, which indicated that policymakers were considering another interest rate increase before the end of 2026.

Although the minutes did not establish a specific date for another increase, they reinforced uncertainty about the direction of US monetary policy.

For XRP, these conditions created additional challenges at a time when its technical structure was already weakening.

Evernorth Delays Nasdaq XRPN Debut to October 12

One of the most closely watched developments affecting XRP this week involves Evernorth Holdings, a Ripple-backed company preparing to become a publicly traded XRP treasury business.

Evernorth originally expected to complete its merger with Armada Acquisition Corp. II on October 7, followed by Nasdaq trading under XRPN on October 8.

However, the company revised its timetable because of an administrative delay.

According to its filing with the US Securities and Exchange Commission (SEC), the business combination is now expected to close on or around October 9, with trading under XRPN expected to begin on or around October 12.

The company said the administrative issue was not expected to prevent the merger from closing. Both dates remain subject to applicable closing and listing requirements.

Evernorth Expected to Hold 473 Million XRP

Evernorth expects to hold approximately 473 million XRP when the transaction closes, positioning it among the largest publicly traded companies focused on XRP treasury assets.

At XRP’s latest price of $1.40, those holdings would have an estimated market value of approximately $666 million.

The company previously announced that the business combination and related financing commitments were expected to generate approximately $300 million in gross cash proceeds, with its broader fundraising exceeding $1 billion.

Evernorth’s business model differs from that of a traditional XRP ETF.

While an ETF provides exposure to the underlying cryptocurrency through an investment fund, Evernorth operates as a company that owns and manages XRP-related assets.

Investors purchasing XRPN shares would therefore be buying an ownership interest in the company rather than directly holding XRP.

This means the stock’s performance could be affected by corporate expenses, management decisions, financing arrangements, and investor expectations, in addition to XRP price movements.

Could the XRPN Debut Help XRP Recover?

Evernorth’s expected listing could increase institutional visibility for XRP by providing stock market investors with another way to gain exposure to an XRP-focused company.

However, the listing itself does not guarantee additional demand for the cryptocurrency.

Much of Evernorth’s expected XRP treasury has already been acquired or committed, so its public debut may not involve buying the entire reported holding from the open market.

The immediate effect will depend on investor interest in XRPN shares, any additional XRP accumulation, and broader market sentiment.

For XRP traders, October 12 remains an event worth monitoring, but the listing should not be treated as a guaranteed catalyst for a price recovery.

XRP ETFs Record Inflows Despite the Price Decline

Institutional investment flows have remained one of the more encouraging developments for XRP, even as its market price continues weakening.

US spot XRP ETFs recorded approximately $3.14 million in net inflows on October 6, with Bitwise’s XRP ETF attracting $10.55 million during the session.

Franklin Templeton’s XRPZ fund recorded approximately $4.07 million in outflows, while other funds accounted for the remaining withdrawals.

Despite these mixed results, the ETF market finished the session with positive net flows.

Cumulative net inflows into US spot XRP ETFs reached approximately $1.79 billion, while total net assets stood near $1.70 billion as of October 6.

Ripple Expands Institutional Business Through Brevan Howard Partnership

While XRP’s price remains under pressure, Ripple continues expanding its institutional financial services business.

Ripple Prime has broadened its relationship with Brevan Howard, a global investment manager with approximately $35 billion in assets.

The agreement includes brokerage, clearing, and financing services for funds managed by Brevan Howard, extending Ripple’s involvement in traditional financial markets.

Ripple Prime was established after the company acquired Hidden Road, a prime brokerage business that expanded Ripple’s ability to serve institutional investors.

The arrangement adds to Ripple’s efforts to connect traditional financial services with digital asset infrastructure.

Does the Agreement Create More Demand for XRP?

The partnership is important for Ripple’s institutional expansion, but it does not necessarily translate into immediate demand to buy XRP.

Neither company announced a specific XRP purchase commitment in the agreement.

Ripple Prime’s services can support financial activities that do not require clients to purchase or hold XRP.

The partnership could strengthen Ripple’s position in institutional finance over time, but XRP’s immediate direction remains more closely tied to market demand, broader economic conditions, and technical support levels.

XRP Ledger Developments Add Another Event to Watch

XRP investors are also monitoring developments involving the XRP Ledger, the blockchain network that processes XRP transactions.

One upcoming technical change is the fixBatchV1_2 amendment, designed to address issues with the network’s Batch transaction functionality.

The upgrade aims to improve transaction reliability by correcting specific processing and calculation issues.

Its activation depends on the network meeting the required validator approval conditions.

A successful activation would represent another step in the XRP Ledger’s technical development, although it would not automatically increase demand for XRP.

Can XRP Hold $1.40 and Recover Toward $1.60?

XRP’s immediate direction now depends heavily on whether buyers can defend $1.40.

At its current price, XRP is trading close enough to support that even a modest decline could bring the level into focus.

The broader technical structure remains weak, although a breakdown has not been confirmed, as it is trading near support.

The bullish scenario begins with XRP successfully defending $1.40. A sustained recovery above $1.42 would signal easing selling pressure, followed by a potential move toward $1.44 to $1.45.

Reclaiming $1.45 would improve immediate momentum, but stronger confirmation would require a break above $1.4850.

A daily close above $1.4850 could allow XRP to challenge $1.50 to $1.55. If buyers clear those resistance levels, XRP could eventually attempt a move toward $1.596 to $1.63, followed by higher targets near $1.65 to $1.70.

However, stronger ETF demand and improving broader market conditions would make a sustained recovery more convincing.

The base scenario assumes XRP holds the $1.40 support level but struggles to attract enough buying pressure for a meaningful recovery.

Under this outcome, the cryptocurrency could remain within a relatively narrow trading range between $1.40 and $1.45.

Repeated attempts to recover above $1.45 without stronger buying volume could indicate that investors remain cautious.

This would allow the market to stabilize temporarily, although prolonged consolidation near support could leave XRP vulnerable to another decline.

The bearish scenario begins with a sustained move below $1.40. If XRP closes below that level and fails to reclaim it in subsequent sessions, the odds of another correction would increase.

The next downside target would be approximately $1.37 to $1.38. A failure to defend that region could expose $1.32, followed by the broader $1.27 to $1.28 support zone.

Continued leveraged liquidations, weak spot demand, and broader cryptocurrency selling would strengthen the bearish case.

Table 2. XRP Bullish, Base and Bearish Scenarios

The base case would allow XRP to stabilize while investors assess the broader market and upcoming Evernorth listing.

However, trading near the $1.40 support level means downside risks remain elevated. A bullish reversal would require stronger buying momentum and a confirmed recovery above resistance, while a breakdown below $1.40 would shift attention toward the next lower support region.

Final Thoughts

XRP’s short-term outlook has weakened further as the token trades near the psychological support, leaving $1.40 as the immediate level buyers need to defend.

A recovery above $1.45 would ease some selling pressure, but stronger bullish confirmation requires XRP to reclaim $1.4850. A drop to $1.40 could expose $1.37 and potentially $1.32 if selling continues.

For now, XRP’s direction will depend on whether buying demand strengthens near support and whether broader cryptocurrency market conditions begin stabilizing.

This article is for informational purposes only and does not constitute financial advice. Cryptocurrency markets are volatile, and price targets are not guaranteed. Always conduct your own research before making investment decisions.

Frequently Asked Questions

Here are the most common questions about XRP’s latest decline, the $1.40 support level, and Evernorth’s upcoming Nasdaq debut.

Why Is XRP Falling on October 8, 2026?

XRP has fallen toward $1.40 amid broader market selling, rising US Treasury yields, and leveraged liquidations. XRP also struggled to regain important resistance levels after falling below $1.50.

What Is XRP’s Main Support Level Right Now?

XRP’s immediate support is $1.40. A sustained breakdown below that level could expose $1.37 to $1.38, followed by the broader support region near $1.27 to $1.32.

Can XRP Recover to $1.50?

A recovery toward $1.50 remains possible if XRP holds $1.40 and reclaims resistance around $1.45 and $1.4850. Stronger buying demand would be needed to sustain an advance above those levels.

When Will Evernorth Begin Trading Under XRPN?

Evernorth expects its shares to begin trading on Nasdaq under the XRPN ticker on or around October 12, 2026. The company postponed the expected debut from October 8 because of an administrative delay. The revised date remains subject to closing and listing requirements.

Are XRP ETFs Still Recording Inflows?

The latest confirmed figures cited in this article show US spot XRP ETFs recording approximately $3.14 million in net inflows on October 6. Positive ETF flows have not been sufficient to prevent XRP’s recent price decline.

Could XRP Fall to $1.30?

A decline toward $1.30 is possible if XRP loses $1.40 and subsequently breaks below support near $1.37 and $1.32. However, these are conditional technical scenarios rather than guaranteed price targets.