Overview
- XRP held the $2.40–$2.50 support band, briefly reclaimed $2.50, and settled near $2.44 with repeated defenses of the $2.42–$2.44 zone.
- Ripple co‑founder Chris Larsen sold about 50 million XRP on Oct. 20 for roughly $120 million, which on‑chain trackers flagged without evidence of marketwide panic.
- Whale transfers to exchanges surged from Oct. 1 to Oct. 17 on Binance, a pattern that typically signals distribution and keeps near‑term downside risk in focus.
- Ripple‑backed Evernorth plans a Nasdaq listing via a merger with Armada Acquisition Corp II to raise over $1 billion for an institutional XRP treasury backed by SBI, Pantera, Kraken, and GSR, with open‑market purchases part of its model.
- Derivatives data show open interest and futures volume rising, while institutional desks report renewed interest in XRP as traders watch SEC ETF timelines and key resistance near $2.56.