Ripple Price Forecast: Sellers keep the upper hand as Evernorth Holdings submits SEC filing to purchase more XRP

• Resistance at higher technical levels keeps XRP under pressure below $1.30.
• To fund further XRP purchases, Ripple-backed treasury company Evernorth Holdings has filed with the SEC to raise $81 million.
• Further downside remains a technical risk for XRP, with the MACD maintaining its sell signal and the RSI approaching oversold levels.

Mounting pressure across the cryptocurrency market is reflected in Ripple’s (XRP) deepening correction below $1.30 on Monday. The token’s technical outlook suggests that downside could remain the path of least resistance unless the supply zone at $1.30 turns into support.

How does Evernorth Holdings plan to grow its XRP treasury?

An equity facility covering up to 5,218,935 Shares of Class A Common Stock could raise nearly $81 million for Evernorth Holdings (XRPN) at the prevailing XRPN market price, if fully executed. The leading digital assets treasury company, which offers institutions access to XRP, said on Monday that it had signed a common stock agreement with CF Principal Investments to establish the facility.

General corporate purposes, development of the XRP ecosystem and additions to its XRP treasury holdings are the planned uses of the proceeds. According to Evernorth, other committed equity offerings and equity-linked facilities will also remain part of the execution of its treasury strategy.

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

Through a regulated, liquid and transparent structure, publicly traded Evernorth offers investors exposure to XRP. The company ranks among the world’s largest XRP treasuries. Backed by the institutional and decentralised finance (DeFi) ecosystem, its strategies aim to grow the value of XRP per share over time.

Technical analysis: Do bearish signals point to further XRP losses?

The near-term outlook for XRP remains bearish, with the price below the 50-day, 100-day and 200-day Exponential Moving Averages (EMAs), which are grouped between roughly $1.33 and $1.37. Further overhead, the SuperTrend reading of $1.45 adds to the layers of resistance constraining the market. The Moving Average Convergence Divergence (MACD) indicator is still marginally negative, while a Relative Strength Index (RSI) reading of 38 points to weak, though not extreme, downward momentum.

A tightly packed supply zone begins with the 100-day EMA near $1.33, ahead of the 50-day EMA at $1.36 and the 200-day EMA at $1.37. Bulls would have to recover these levels to relieve the prevailing pressure. Higher barriers lie at the SuperTrend level of $1.45 and the descending resistance trend line originating at $1.72. With no clearly defined support immediately below the market, the pair remains vulnerable to additional losses as long as it stays beneath all major dynamic resistance levels.

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