What to know:
- XRP maintains a long-term bullish structure despite the recent pullback.
- Evernorth files S-4, advancing Nasdaq public listing process.
- SPAC merger plan enters final regulatory approval stage.
- Indicators suggest weakening bearish momentum and possible recovery.
The XRP-based treasury firm Evernorth has filed a Form S-4 with the US Securities and Exchange Commission as of March 20, 2026. This move indicates that the company is moving forward with its plans to go public.
This can be regarded as a major step towards the company’s intended Nasdaq listing. The company has planned to reach the public stage through a merger with Armada Acquisition Corp. II via a SPAC deal.
Evernorth had first indicated its plans for a public listing back in October, and this latest filing is viewed as the last significant regulatory barrier for the company before it lists publicly. This may help build confidence and send prices higher for XRP.
Also Read: XRP’s 2026 Access: Massive Signals Driving Institutional Demand
XRP Maintains Strong Long-Term Bullish Structure
The weekly chart of the price of XRP shows a steady long-term climb from around $0.10 in 2020, following a rising trendline from a series of higher lows.
According to the crypto analyst Ali Charts, this is an indication of a strong bullish environment, as the buyers are consistently intervening when the price is falling.
After a strong run-up from $2.00 in 2021, XRP stabilized in an accumulation phase between $0.30 and $1.00, and then started another slow climb, which eventually ended in a breakout to $3.30 in 2024.
Recently, it has settled back down to $1.43 and is again holding to the trendline support. The key supports are around the $1.05 mark, while the resistance for the asset comes in the $2.00-$3.30 region.
As long as the asset holds above the supports, the uptrend remains valid and keeps the possibility of an upward move alive.
However, a breach in the trend line may result in a correction towards the $0.65 region, which would significantly impact the current bullish market structure.
Momentum Indicators Signal Possible Reversal Setup
Currently, the RSI is at 34.96, and its moving averages are around 35.90. It reflects low trading momentum and a dip into oversold territory, as per the TradingView chart.
It reflects strong selling pressures in recent times, and it appears that it cannot fall further. It might reverse if it stabilizes and moves up through the 40-50 range.
Bearish momentum is indicated by the MACD, as the MACD line is at -0.28217, below the signal line, which is at -0.24981, and the histogram is at -0.03236.
However, the fact that the histogram is decreasing indicates that the strength of the bearish momentum is decreasing, and a trend reversal is possible.
Why This Matters
Evernorth’s Nasdaq push may help boost the overall sentiment for XRP as traders watch key resistance levels for a potential breakout.
XRP is trading at key support levels as selling pressure weakens, indicating a potential rally if buyers can take out key resistance levels.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
Also Read: XRP Bullish Setup: Historical Cycles Point to Potential 12x-Like Move
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