XRP held near $1.49 on October 2, still rejected below the $1.5495 level where an earlier breakout failed, even as Evernorth shareholders approved the Armada business combination days earlier. Daily indicators stay mixed: moving averages point up, but MACD remains below its signal line. Social-media sentiment has meanwhile turned bearish, even as large holders pull tokens off exchanges.
XRP traded at $1.49 on October 2, sitting just below a cluster of resistance and beneath the $1.5495 area that recently rejected an attempted breakout. Evernorth shareholders had approved the Armada business combination on September 30, giving the market a fresh corporate catalyst to weigh against the stalled chart.
Evernorth expects to hold about 473 million XRP at closing, with the deal and related private placements generating roughly $300 million in gross cash proceeds. The transaction is due to close on October 7, with Nasdaq trading under the XRPN ticker starting October 8.
Momentum lags the trend
The 14-day RSI stood at 56.4 on October 2, above neutral but short of overbought. Moving averages still line up bullishly — the 12-day EMA at $1.49 sits above the 26-day EMA at $1.45, and the 50-day and 200-day SMAs sit at $1.38 and $1.28 respectively. The source described that configuration as a golden cross.
Momentum tells a different story, however. The daily MACD read 0.0410 against a 0.0460 signal line, meaning it remains below signal and does not confirm a renewed push higher. XRP had briefly traded above $1.5495 before reversing on higher volume, with the session low at $1.4656.
Sentiment turns bearish as tokens leave exchanges
Even as the corporate catalyst builds, social mood has soured. Santiment found XRP's ratio at just 0.67 bullish comments for every bearish one, its lowest level since August 17, as reported by CryptoPotato. According to Santiment: "the mood is now very different from periods when everyone expected prices to keep climbing".
At the same time, daily outflows involving 1 million XRP or more spiked above 320 million tokens, led by Binance. A similar spike in August was followed by a 42% jump in the asset's price, according to CryptoPotato.
A busy week ahead
Beyond the Evernorth close, XRP Seoul is scheduled for October 3, bringing banks and Ripple teams together to discuss XRPL adoption. An XRP Ledger mainnet upgrade window is set to open October 9, alongside improvements to multi-signature verification.
U.S. spot XRP ETFs have now logged 11 straight weeks of inflows, with cumulative inflows above $1.79 billion, according to Coinpedia. For XRP to credibly retest $1.55, the chart still needs to clear the $1.51, $1.54 and $1.5495 resistance sequence that has rejected it once already.
Sources: Crypto Daily™, Coinpedia Fintech News, CryptoPotato
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