XRP rose approximately 1.89% to $1.51 on September 30 after shareholders of Armada Acquisition Corp. II approved the company’s combination with Evernorth Holdings. The token had previously fallen below $1.47 as the market awaited the vote.

Price action remained volatile throughout the session. XRP briefly reached $1.55 in the morning before reversing and consolidating for extended periods between $1.48 and $1.50. An afternoon move lifted the token to $1.54, but momentum then weakened toward $1.50. Buying interest at that level helped XRP recover to $1.51.

Evernorth is a Ripple-supported entity that plans to establish a significant corporate XRP reserve. The transaction does not immediately change existing XRP ownership. Instead, it creates the framework for Evernorth to become a substantial exchange-listed corporation holding a considerable XRP treasury — part of a broader industry trend in which public companies have built dedicated reserves of tokens such as bitcoin and ether.

The proposed combination includes the distribution of more than 473 million XRP. After the remaining procedural requirements are completed, the combined organization intends to begin trading on Nasdaq under the ticker symbol “XRPN.” The shareholder vote was a pivotal step for Armada, a special-purpose acquisition company that takes private firms public through mergers, and a Nasdaq listing would place the XRP reserve inside a conventionally traded equity that stock-market investors can hold through a standard brokerage account.

Bear Champ, a contributor associated with the XRP Ledger ecosystem, reported the voting result on X. “Listened in on the Armada/Evernorth merger vote, it passed,” Bear Champ said, providing early confirmation ahead of formal announcements.

XRP Posts Strong Third Quarter

XRP entered October after gaining 48% during Q3 2026, its strongest third-quarter performance since 2022. Despite that increase, the token remains 59% below its July 2025 record high of $3.65.

U.S. spot XRP exchange-traded funds, which hold the token directly, currently hold approximately 1.16 billion XRP, valued at nearly $1.76 billion. Combined net capital inflows into those investment products have reached roughly $1.68 billion, a scale that has made the funds a frequently cited gauge of institutional demand for the token.

Market analyst Ali Charts identified $1.54 as an important technical threshold in a post on X. “XRP appears to be developing a symmetrical triangle on the hourly chart. Now, everything comes down to $1.54,” Ali Charts wrote, indicating that sustained trading above that level could support a move toward $1.70.

XRP: THE LEVEL TO WATCH $XRP appears to be developing a symmetrical triangle on the hourly chart. Now, everything comes down to $1.54. I’m waiting for an hourly close above $1.54 to confirm the breakout. If that happens, the pattern could trigger roughly a 10% rally toward… pic.twitter.com/3RqQoCsYfk — Ali Charts (@alarts) September 30, 2026

Ripple’s annual Swell event is scheduled to take place in New York from October 27 through 29. Financial markets are assigning as much as a 64% probability to a Federal Reserve monetary policy decision during the October 27–28 session, the central bank’s next scheduled policy meeting.

Historical data shows that October has generally been a difficult month for XRP. The token has recorded an average monthly decline of 5.14% in October and posted negative closes in both 2024 and 2025.

Exchange Balances and Technical Levels

Glassnode data shows that XRP held on exchanges declined from approximately 12.9 billion tokens to 11 billion beginning in April. About 1.6 billion XRP left trading platforms during the most recent two-week period. Exchange balances are a closely watched gauge because tokens held on trading platforms are the ones most immediately available for sale.

Large holders reportedly accumulated 470 million XRP over five consecutive days last week. At the same time, Binance’s XRP scarcity metric fell to its lowest level since January 2025.

On the weekly chart, XRP broke through a descending resistance line that had constrained its price since the July 2025 peak. Higher trading volume in August confirmed the move. The weekly Relative Strength Index is near 55, above the neutral level, after also breaking through its previous declining trend.

XRP currently has technical support in the $1.47-to-$1.50 range. On the four-hour chart, the token is forming a symmetrical triangle, with its converging trendlines approaching an intersection around October 3. Resistance is located at $1.59, while additional support stands at $1.47 and $1.38.

A breakout from the consolidation pattern could produce a price objective of $1.83, while a failure could send XRP toward $1.17, corresponding to the 0.786 Fibonacci retracement level.

Ripple may also unlock as much as 1 billion XRP from programmed escrow on October 1, adding another factor for market participants to assess during the week. The company has operated the monthly escrow program since 2017, when it locked 55 billion XRP into on-ledger contracts that make up to 1 billion tokens available on the first day of each month.