XRP price is gaining long-term bullish attention as analysts anticipate stronger market adoption and institutional demand. Meanwhile, Evernorth is advancing its proposed Nasdaq deal, which could expand corporate exposure to XRP and strengthen its role as a treasury asset, while supply dynamics remain a key consideration.
At the time of writing, XRP is trading at $1.42 with a 24-hour trading volume of $4.24 billion and a market capitalization of $89.35 billion. Despite the signs of stability over the last 24 hours, the XRP price structure and institutional adoption point to a bullish reversal ahead.
Source: CoinMarketCap
Also Read: XRP Price Tests $1.40 Support as Bulls Target $1.54 and $1.70 Recovery
XRP Could Reach $7 With $500B Market Cap
According to the crypto analyst EGRAG CRYPTO, the XRP price could reach approximately $7 by June 2029 if its market capitalization climbs to $500 billion. With roughly 62.74 billion XRP currently circulating, the XRP price would be valued near $7.97.
However, assuming Ripple maintains an estimated net distribution pace of 268 million XRP monthly, circulating supply could rise to approximately 71.9 billion.
Source: EGRAG CRYPTO’s X Post
At such an estimate, a valuation of $500 billion would mean that each XRP is worth around $6.96. This depends on the future escrow release, which will put the adjusted range somewhere between $6.85 and $7.20. It should be noted, however, that not all escrowed XRPs are going to be released for transactions.
Evernorth Files S-4 Amendment for XRP Nasdaq Deal
The data from BankXRP further highlighted that Evernorth has amended its S-4 registration statement with the SEC by filing Amendment No. 7, moving closer to completing the proposed merger between the company and Armada Acquisition Corp. II.
The merger may bring Ripple’s treasury management focused on XRP closer to the market as the merged entity plans to list itself on Nasdaq under XRPN.
Source: BankXRP’s X Post
This deal will result in a publicly held entity that will be focused on holding and managing XRP as a corporate treasury asset. Both Evernorth and Armada have been making efforts to streamline the deal as the process advances.
Although the new filing has not yet confirmed any near-term listing, it is evident that Evernorth is getting closer to becoming a publicly held XRP treasury corporation.
Despite the bullish price predictions and institutional adoption, the XRP price is moving in a downward direction. However, the general trend in the crypto market is improving, and the XRP price could soon witness a breakout if conditions remain favorable.
What Happens Next for XRP?
The potential triggers for XRP moving forward may include developments with Evernorth’s Nasdaq deal, regulatory news, and changes in circulating supply.
Investor sentiment will be very closely tied to institutional interest in XRP, the accumulation of the token in the Ripple treasury, and important technical levels of resistance.
Also Read: Mastercard XRP Ledger Hackathon Set for October in New York
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
Be the first to comment