XRP Price Nears $2.40 Hints at Accumulation Before Breakout

XRP Price Stability Near $2.40 Suggests Imminent Breakout

XRP price fell 3% over the past 24 hours, slipping below the $2.50 mark as the broader crypto market corrected. The overall market declined 2.81% during the same period, extending a seven-day drop of 4.68%. Analysts attribute the pullback to mixed macroeconomic pressures and technical breakdowns across major digital assets.

Despite the dip, the altcoin continues to maintain higher lows around the $2.40 level, suggesting resilience and accumulation. Market observers note that a sustained move above $2.50 could trigger a breakout toward $2.70, potentially reviving its broader bullish structure.

Ripple and Partners Reinforce Commitment Through Evernorth Investment

Japanese gaming firm GUMI Inc. announced plans to join SBI Group and Ripple in a PIPE investment supporting Evernorth, a new XRP-focused treasury venture. The initiative is designed to expand XRP’s institutional presence and utility within the financial ecosystem.

CEO Brad Garlinghouse reaffirmed strong support for the token, stating, “Anyone who thinks Ripple isn’t fully behind token has lost the plot we’re 100% committed.”

His comments, echoed by co-founder Chris Larsen, CTO David Schwartz, CLO Stuart Alderoty, and Evernorth CEO Asheesh Birla, reflect growing unity within Ripple’s leadership team.

Birla described Evernorth as “a first-of-its-kind institutional vehicle built to accelerate the token adoption,” emphasizing its focus on lending, liquidity, and DeFi yield opportunities. 

Garlinghouse noted that Ripple, alongside investors like SBI Holdings, Pantera Capital, Kraken, GSR, and Rippleworks, will play a key role in fueling XRP’s next phase of institutional growth. Larsen further solidified his confidence by pledging 50 million to the venture, signaling continued belief in the asset’s long-term value.

Is XRP Price Preparing for a Bullish Reversal?

The XRP price hovered at $2.39 on October 22, showing mild weakness after recent consolidation near $2.40. The token slipped 3% in the last 4-hour session, reflecting a decreasing trend.

The MACD indicator is showing early bearish momentum. The MACD line has crossed below the signal line, indicating a decline in buying strength. The histogram has turned slightly negative, reinforcing short-term caution.

Meanwhile, the Relative Strength Index (RSI) stands at 44.55, signaling a shift toward neutral-to-bearish sentiment, with selling pressure gradually increasing.

A decisive move above $2.50 could trigger fresh momentum toward $2.80, while a rejection may drag prices back toward $2.20 or even the $2.00 support level.