XRP News: Evernorth Targets $80.7M for XRP as Token Trades Near $1.29 Today

Ripple-backed Evernorth Holdings is preparing to raise as much as $80.7 million through a share-purchase facility with an affiliate of Cantor Fitzgerald, potentially giving the digital-asset treasury company more capital to acquire XRP. The agreement, disclosed in an October 23 filing with the U.S. Securities and Exchange Commission, allows Evernorth to issue up to 5.22 million new shares. The funding is not guaranteed, and XRP’s price remains vulnerable to selling pressure from large holders.

Evernorth Sets Up $80.7M Funding Facility

Under the SEC-filed agreement, Evernorth can sell up to 5,218,935 Class A shares to CF Principal Investments, an affiliate of Cantor Fitzgerald. The arrangement provides a way to raise equity capital periodically rather than relying solely on a traditional public offering.

The estimated $80.7 million in gross proceeds is based on the filing’s reference share price of $15.46. Actual proceeds will depend on the number of shares issued, prevailing market prices, trading liquidity and the facility’s contractual conditions. The purchase price is generally linked to 97% of the relevant volume-weighted average price, meaning the amount raised may differ from the headline estimate.

Evernorth said it expects to use a substantial portion of the proceeds to purchase additional XRP, while also covering working capital, corporate expenses and other activities within the XRP ecosystem. The strategy resembles digital-asset treasury models that raise capital through equity issuance to accumulate cryptocurrency.

The company also has a separate potential source of funding through outstanding warrants. Its October prospectus covers nearly 11.5 million shares issuable at $11.50 per share, representing approximately $132.2 million if all eligible warrants are exercised for cash. That amount is conditional, not cash already received, and additional shares could dilute existing shareholders’ ownership.

XRP Price Faces Whale-Selling Pressure

XRP traded near $1.29 in reports published October 26, recovering modestly after testing an intraday low around $1.27. The rebound came as investors assessed Evernorth’s funding plans, while declining trading volume suggested that buying momentum remained uncertain.

Analyst Ali Martinez highlighted a reduction in large-holder wallets. The number of addresses holding between 10 million and 100 million XRP reportedly fell from 351 to 339 over recent weeks. Separate exchange-flow data indicated that more XRP was moving onto trading platforms, potentially increasing the supply available for sale. Wallet counts alone, however, cannot establish how much XRP investors have sold or why they moved their holdings.

Market participants are watching the $1.28–$1.30 area for signs of stability. A sustained break below support could weaken the near-term outlook, while stronger buying and a recovery above resistance would improve the chance of a rebound. Futures open interest was reported at approximately $2.86 billion, with its 24-hour decline narrowing to 0.87%, indicating that derivatives positioning remained active.

Conclusion

Evernorth’s proposed facility could provide additional capital for XRP purchases, but it does not guarantee that the full $80.7 million will be raised or immediately invested in the token. The potential warrant proceeds are also dependent on investor decisions. For XRP, the key near-term test is whether demand can absorb potential selling from large holders and sustain support around $1.28–$1.30. Funding announcements may support sentiment, but lasting price strength will require confirmed capital deployment and broader market demand.