XRP Can it rebound to $1.60? Evernorth Expanding Wall Street presence

The hourly parallel channel pattern of XRP indicates that $1.25 may be a potential support area before a rebound.

If there is a rebound, the price of XRP may rise to $1.42, with $1.60 becoming the upper target of the channel.

The NASDAQ debut of Evernorth and cooperation with institutions are expanding its XRP treasury strategy, adding new developments to the market narrative.

XRP The price is facing another critical test, with the vicinity of $1.25 likely to become an important testing level. If there is a rebound, $1.42 and $1.60 will once again become focal points of attention. Ali Charts indicates that the appearance of a descending parallel channel on the hourly chart suggests that the token may continue to fall further before buyers take control of the situation again. Meanwhile, Evernorth is listed on NASDAQ and is expanding institutional exposure to XRP through a publicly traded treasury strategy. As key support levels come under pressure and progress at the institutional level attracts attention, traders are observing whether XRP can form a bottom and reverse the recent downward trend.

Evernorth Expanding the presence of XRP institutions on Wall Street

Evernorth Holdings has entered the US public market with its treasury strategy centered around XRP, by listing on NASDAQ under the stock code XRPN. Upon entering the market, the company held approximately 473 million XRP and had a total cash surplus of about $300 million, excluding transaction fees.

Evernorth also announced the establishment of institutional execution cooperation relationships with Ripple, Coinbase, Kraken, and BitGo. The company plans to begin deploying its XRP treasury through an institutional strategy in the fourth quarter of 2026. This strategy aims to generate returns from XRP holdings while supporting the activities of the entire ecosystem. Its public listing has also provided traditional market investors with another way to access companies focused on XRP without the need to directly hold such cryptocurrencies.

However, the existing treasury of Evernorth does not necessarily mean that it will automatically lead to new purchases of XRP. Its potential impact on that token will depend on future increases in holdings, treasury deployment, and actual market demand.

XRP Price Analysis: Ali Charts believes that $1.25 is a key support level

According to Ali Charts, the price of XRP token seems to be trading within a descending parallel channel on the hourly chart. This technical pattern indicates that the token may continue to fall to around $1.25, near the lower edge of the channel, before buyers attempt a meaningful rebound.

$1.25 is regarded by the analyst as a potential buying zone. If this level can be successfully held, it could trigger a rebound to around $1.42, which is near the midline of the channel. If the bullish momentum strengthens, XRP may then rise further towards the upper limit of around $1.60.

The key price levels are as follows:

• $1.25 support: The lower edge of the channel, which is also a potential rebound area.
• $1.42 resistance: The first target for a rebound near the midline of the channel.
• $1.60 resistance: the upper edge of the channel, which is also the next potential upside target.

If it clearly falls below $1.25, the bullish scenario will weaken, and the token will face further downside risks.

If the price rises to $1.42, it will provide an initial sign of recovery; to continue to advance to $1.60, stronger buying interest is needed. None of the aforementioned targets have been confirmed yet.

XRP What will happen next?

The recovery prospects of XRP will depend on the broader sentiment in the crypto market, as well as whether progress at the institutional level can be translated into sustained demand. The treasury strategy of Evernorth provides institutions with another way to take on exposure, but its impact on XRP will depend on future capital allocation and increases in holdings. For now, traders need to see new buying confirmation before they will regard the current downtrend as a reversal.