XRP Today News: $1 Billion Treasury Reserve Ignites Institutional Wave, Battle for $3 Approaches

Evernorth plans to establish a $1 billion XRP treasury reserve, indicating a surge in institutional demand and long-term adoption bets. With support from Ripple and major Crypto Assets funds, investors welcomed Evernorth's SPAC launch, driving the XRP Token to pump to $2.5536, with long positions expecting to challenge the $3 mark soon.

Evernorth pushes $1 billion treasury reserve institution to rush in

XRP's news focus today is centered on Evernorth, supported by Ripple, announcing plans to raise over $1 billion to establish an XRP treasury reserve. This has pushed the Token to a high of $2.5536 on Monday, October 20, marking a 4.47% increase in a single day. This could signify a turning point in the institutional narrative for XRP.

Evernorth Holdings Inc. announced that it has reached a business merger agreement with the publicly listed special purpose acquisition company (SPAC) Amarda Acquisition Corp II (Nasdaq: AACI). After the completion of the transaction, the company will continue to operate under the name Evernorth (Nasdaq stock code: XRPN). According to the official press release, investors include SBI, Ripple, Rippleworks, Pantera Capital, and GSR. Ripple co-founder Chris Larsen and other well-known fintech figures and investors will also be involved.

It is crucial that Evernorth will use the net proceeds to purchase XRP, aiming to establish the largest institutional XRP treasury reserve. The transaction is expected to be completed in the first quarter of 2026. In addition to establishing the largest institutional XRP treasury reserve, Evernorth also plans to promote the real-world utility of XRP, focusing on payments, capital markets, and Tokenized assets.

Evernorth CEO Asheesh Birla stated: “The establishment of Evernorth aims to provide investors with exposure not just to the price of XRP. We leverage existing TradFi yield generation strategies and set up DeFi yield opportunities, while also contributing to the growth and maturation of the ecosystem. This approach is designed to create returns for shareholders while supporting the utility and adoption of XRP.”

David Schwartz serves as a strategic advisor to strengthen confidence

One of the major highlights of today's XRP news is that Ripple's former Chief Technology Officer David Schwartz announced he will serve as a strategic advisor for Evernorth. He stated on social media: “XRP community — I promise to update you on my next project soon, right? Let's start now: I will be serving as a strategic advisor for Evernorth, led by my friend. The original intention of establishing Evernorth is to become a regulated, scalable investment tool aimed at exploring the opportunities of XRP in DeFi and capital markets, expanding the entire XRP ecosystem.”

David Schwartz has a high reputation in the crypto community, and his joining brings technical credibility and community trust to Evernorth. The market's reaction to the announced $1 billion XRP treasury reserve asset plan highlights the significant impact of institutional demand on price trends. Analysts remain optimistic that strong demand for the XRP spot ETF could drive the token price to new highs.

In addition, the announcement may enhance institutional confidence in XRP, thereby laying the foundation for the explosive launch of the XRP spot ETF. Market intelligence platform Santiment commented on XRP's price rebound above $2.5: “Just 10 days after [XRP]/sell-ripple-xrp( fell below $1.90, and only 3 days after it dropped to $2.20, XRP broke through $2.5. Data shows that there are clear signs of loss selling and panic selling in the market. Price trends often run contrary to retail expectations.”

) The government shutdown continues to hinder the ETF approval process

However, the U.S. government shutdown has continued to obstruct the issuance of the XRP spot ETF, keeping it far below the historical high of $3.66. The final decision deadlines for Grayscale, 21Shares, and Bitwise are October 18, 19, and 20, respectively. The final decision deadlines for Canary Capital, CoinShares, and WisdomTree are also expected to be delayed, with these companies' final decision deadlines set for this week.

It is worth noting that the uncertainty regarding the launch timetable of the spot ETF has caused XRP to retreat from its high of $3.1027 on October 2nd. On Monday, October 20th, the Senate's 11th vote did not reach the required 60 votes, resulting in an extension of the shutdown period to 20 days. Today's news on XRP shows that Capitol Hill may now hold the key to XRP's next breakout.

Technical Analysis and Key Price Levels

![XRP/USD Daily Chart]###https://img-cdn.gateio.im/webp-social/moments-87a9b3933a-093a01c9a1-153d09-69ad2a.webp(

(Source: Trading View)

On October 20, XRP rose by 4.47%, closing at $2.4978, following a 1.21% increase the previous day. The Token outperformed the overall Crypto Assets market, which rose by 1.62%. Despite the breakout, XRP remains below the 50-day and 200-day exponential moving averages (EMA), further confirming the bearish tendency.

**Key technical levels to watch: **

Support Levels: $2.4, $2.0, and $1.9

Technical Resistance Levels: 200-Day EMA is $2.6183, 50-Day EMA is $2.7435

Resistance Levels: 2.7 USD and 3.0 USD

) Bullish and Bearish Scenario Analysis

Bullish Scenario: Heading to 3 USD

1. The United States has passed a temporary funding bill, and the government has reopened.

2. BlackRock submitted the S-1 filing for the iShares XRP Trust, and the U.S. Securities and Exchange Commission approved the spot ETF.

3. Blue-chip companies accumulate XRP for financial purposes, and the company adopts Ripple technology.

4. Ripple has obtained a US chartered bank license, and the Senate has passed the Market Structure Act.

These bullish scenarios may drive the Token to break through 2.7 dollars, with hopes of reaching 3.0 dollars. A breakthrough at 3.0 dollars could pave the way for a pump to 3.66 dollars.

Bearish Scenario: Risk is below 2.4 USD

1. The U.S. government's closure extension further delays the launch of the spot ETF.

2. The U.S. Senate questions cryptocurrency-friendly legislation, including the market structure bill.

3. Blue-chip companies have limited interest in XRP as a treasury reserve asset.

4. OCC delays or denies Ripple's U.S. charter banking license.

These bearish scenarios could push XRP back to $2.4. A drop below $2.4 may expose the psychological support level of $2.0. The recent price trend of XRP depends on the launch of spot ETFs and their liquidity trends. Given the ongoing government shutdown in the United States, traders should closely monitor the progress of Congress's reopening.