XRP Price Prediction: $1.50 Breakout Could Revive Bulls as Evernorth Moves Toward Nasdaq Listing

• XRP must reclaim $1.4334 and $1.50 to restore bullish momentum after its pullback.
• Rising open interest could amplify XRP volatility as traders rebuild leveraged positions.
• Evernorth’s September 30 vote adds a potential catalyst for XRP institutional demand.

XRP faces renewed selling pressure as weakening technical momentum meets a major corporate development involving Evernorth Holdings. The token trades near $1.415 after failing to hold momentum above the $1.50 level. However, derivatives positioning has started rising again, creating a potentially volatile backdrop for XRP. 

Technical Momentum Weakens

XRP recently slipped below its 20-period EMA at $1.4334 on the four-hour chart. The decline suggests that short-term buyers have lost some control following the latest rally. Additionally, the Stoch RSI shows weakening momentum, with %K at 49.97 below %D at 63.70.

However, XRP remains above its 50, 100, and 200 EMAs. Therefore, the broader four-hour structure still retains a constructive foundation despite the recent pullback.

The $1.4260 level now provides immediate resistance near the 0.618 Fibonacci retracement. A move above $1.4334 could restore short-term strength. Moreover, XRP would need to clear $1.50 before targeting $1.5453.

On the downside, $1.3816 represents the first major support near the 50 EMA. A break below that level could expose $1.3422. Further weakness could send XRP toward $1.2852 and eventually $1.2007.

Derivatives Signal Rising Risk

XRP’s open interest has also started recovering after months of deleveraging. Open interest previously exceeded $10 billion during July before falling sharply toward $2 billion to $3 billion.

The latest reading stands near $3.48 billion, while XRP trades around $1.45. This increase indicates that traders have begun rebuilding derivatives positions.

Significantly, rising open interest can amplify price movements when traders increase leverage. Hence, XRP could experience sharper swings if spot momentum strengthens or deteriorates.

Exchange Flows Remain Bearish

Spot market flows continue to show persistent XRP outflows. Red netflow readings have repeatedly exceeded inflows throughout the observed period.

The latest netflow sits near negative $5.74 million. That figure indicates that more XRP left exchanges than entered them during the latest reading.

Moreover, sustained outflows could eventually reduce readily available selling liquidity. However, the pattern does not yet confirm strong accumulation because XRP continues to struggle with price momentum.

Evernorth Advances Toward Nasdaq Vote

Evernorth also reached an important milestone on August 27. The SEC declared its Form S-4 registration statement effective, allowing Armada to distribute definitive proxy materials.

Armada shareholders will vote on the proposed transaction during a virtual meeting on September 30. Shareholders can also redeem their shares separately from voting on the merger.

Redemption requests must arrive by September 28. Consequently, heavy redemptions could reduce the cash Armada contributes toward the transaction.

If shareholders approve the deal and remaining conditions receive clearance, the combined company expects Nasdaq trading under XRPN. The transaction could therefore create another significant institutional catalyst for XRP.

Technical Outlook for XRP Price

Key levels remain well-defined heading into September:

Upside levels: $1.4334 and $1.5000 represent immediate hurdles. A breakout above $1.5000 could open the path toward $1.5453 and higher levels.

Downside levels: $1.3816 is the first major support, followed by $1.3422 and $1.2852. A deeper correction could expose the $1.2007 area.

Resistance ceiling: $1.5453 is the key level to reclaim for stronger medium-term bullish momentum.

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Will XRP Go Up?

XRP’s September outlook depends on whether buyers can defend the $1.3816 support while reclaiming the $1.4334 20 EMA. A sustained move above $1.50 would strengthen the bullish setup and bring $1.5453 into focus. 

However, failure to hold $1.3816 could trigger a deeper retracement toward $1.3422 and $1.2852. Rising open interest and persistent spot outflows could also increase volatility. For now, XRP remains in a pivotal zone, with the next major move likely depending on whether buyers regain control above $1.50.

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