XRP News Today: Evernorth's $1B XRP Bet Fuels Bullish Outlook as Price Targets $5.85

The XRP price is poised for a significant upward move, with analysts and market developments pointing to a potential rally toward $5.85. Institutional and retail momentum has converged, driven by strategic investments, regulatory clarity, and expanding utility for Ripple's native token. XRP traded between $2.44 and $2.57 in the last 24 hours, reflecting renewed optimism as key players and platforms bolster the asset's profile.

James Wynn, a prominent analyst, has highlighted XRP as a strategic investment, noting Ripple's commitment to its success. The company holds approximately 100 billion XRP tokens, which will be released gradually over the next decade. "They will do everything in their power to make that crypto asset a success-they are hands down the biggest beneficiary of a higher-priced $XRP," Wynn wrote on X. This sentiment, coupled with Ripple's institutional expansion through Ripple Prime-a platform exploring XRP and RLUSD integration-has fueled recent price action, as detailed in a Crypto.News report.

Further bullish signals emerged as Hyperliquid Whale and other investors injected liquidity into XRP. While the price remains below the $2.80 resistance level, historical patterns and Ripple's infrastructure advancements suggest a breakout is likely. Ripple President Monica Long emphasized the platform's potential to enhance XRP's utility in payments, custody, and tokenized assets, as noted in a TradingView report.

Institutional confidence has also surged following Evernorth's $1 billion funding round, which will be used exclusively to purchase XRP. The new vehicle, separate from Ripple's balance sheet and co-founder Chris Larsen's 350 million XRP holdings, marks one of the largest institutional XRP purchases in history. Evernorth plans to trade on Nasdaq under the ticker XRPN by early 2026, potentially creating a liquidity boost for the token, according to a CoinPedia report.

Technical analysis adds to the bullish case. XRP's price action around the $2.40 level has drawn attention, with traders anticipating a breakout to $2.70–$3.00 if the resistance holds. A recent dip to $2.37 has sparked discussions about a "liquidity-targeted fake-out" at $2.40, though the RSI indicator suggests strong upside potential, according to Yahoo Finance.

Regulatory developments further support XRP's trajectory. Ripple's application for a Federal Reserve master account could position it as a leader in blockchain-integrated payments, aligning with the Fed's exploration of AI, tokenization, and smart contracts. China's DeepSeek AI has even projected XRP could reach $10 by late 2025, citing the Fed's shift toward digital assets and Evernorth's Nasdaq listing as catalysts, as reported in a CoinPedia article.

While risks remain, the confluence of institutional demand, regulatory progress, and AI-driven optimism paints a compelling picture for XRP. Analysts at Perplexity AI note that XRP has already outperformed Bitcoin and Ethereum this year, with potential ETF approvals and seasonal tailwinds in October adding to the bullish narrative, as covered in a TradingView report.