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Points of Focus
- XRP trades at $1.49 after briefly moving above $1.50 as Evernorth’s merger vote was reportedly approved.
- Evernorth expects at least 473.3 million XRP at closing, worth about $705 million at the current XRP price.
- Only 84.4 million XRP, or 17.8% of the planned treasury, came from a disclosed open-market purchase.
XRP (XRP) traded at $1.49 at the time of writing after briefly moving above $1.50 on Sept. 30 as reports said Armada Acquisition Corp. II shareholders approved its merger with Evernorth Holdings. Armada hadn’t yet filed official vote results with the US Securities and Exchange Commission (SEC).
XRP Ledger collaborator Bear Champ said in an X post that he listened to the meeting and that the vote passed. SEC materials filed before the meeting said shareholder approval was required before closing, with the combined company expected to trade on Nasdaq under “XRPN.”
Listened in on the Armada/Evernorth merger vote, it passed. pic.twitter.com/3xOkWfh13Y
— BCHAMP XRPL (@bearchampxrpl) September 30, 2026
Evernorth vote advances 473-million-XRP treasury plan
SEC filings show Evernorth expects to hold at least 473,276,430 XRP at closing. At XRP’s current $1.49 price, that position would be worth about $705 million.
Only 84,365,876 XRP of that total came from a disclosed open-market purchase. Evernorth bought the tokens for $214 million in November 2025 at an average of $2.5366 each, equal to about 17.8% of the planned treasury.
Ripple contributed 126.79 million XRP, the sponsor committed 211.32 million XRP, a Ripple affiliate committed another 50 million XRP, and smaller subscriptions account for the remainder.
That composition limits the case for treating the full 473-million-XRP figure as fresh spot demand following the vote. Most of the planned treasury was already purchased or committed before Sept. 30, so the transaction’s near-term price relevance rests more on the public-market vehicle advancing toward closing than on a new 473-million-token buy.
XRP’s price faces $1.56 resistance as futures exposure falls
CoinGlass data on Sept. 30 showed XRP futures open interest falling from $3.73 billion on Sept. 28 to about $3.46 billion, a 7.2% decline, while XRP struggled to hold above $1.50.
In a Sept. 30 X post, crypto analyst and CryptoQuant-verified author CW said net XRP buying had appeared across exchanges after Binance led buying a day earlier. The renewed spot buying contrasts with falling futures exposure, but XRP still needs to hold above nearby resistance to confirm stronger upward momentum.
Yesterday, the Binance spot market saw net buying of $XRP, on the other hand, other exchanges showed net selling.
However, today, net buying is being observed across all exchanges. pic.twitter.com/clicHO0pKP
— CW (@CW8900) September 30, 2026
A second Sept. 30 post from Wealthmanager described the current move as a repeated support pattern, with further upside dependent on that structure holding. XRP’s daily resistance sits near $1.5625, while CoinGlass’s one-week liquidation heatmap showed heavier concentrations around $1.55-$1.57.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency prices are highly volatile. Always conduct your own research before making investment decisions.
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