The post XRP Tests Lower Bollinger Band at $2.23 as Evernorth IPO Plans Counter Routine Escrow Release appeared on BitcoinEthereumNews.com.

James Ding
Nov 05, 2025 10:28

XRP trades at $2.23 down 1.7% as routine billion-token escrow release meets bullish Evernorth IPO announcement, testing key technical support levels in volatile crypto market.

Quick Take • XRP trading at $2.23 (down 1.7% in 24h) • Evernorth’s $1B IPO plans to accumulate XRP offset routine escrow release concerns • XRP price testing lower Bollinger Band support at $2.20 • Following broader crypto weakness with Bitcoin declining Market Events Driving Ripple Price Movement The XRP price faced mixed catalysts over the past week, with Ripple’s routine November 1st escrow release of 1 billion tokens creating selling pressure despite Evernorth’s bullish IPO announcement from late October. The monthly escrow unlock, valued at approximately $2.5 billion, follows Ripple’s established pattern where 70-80% typically gets re-locked, leaving only 200-300 million XRP entering active circulation. More significantly for long-term XRP price dynamics, Ripple-backed Evernorth announced plans to go public through a merger, targeting over $1 billion in capital to become the largest publicly traded XRP treasury company. This institutional accumulation strategy represents a potential demand catalyst that could absorb future escrow releases. Trading on technical factors in absence of major catalysts over the past 48 hours, the XRP price has followed broader cryptocurrency market weakness. Bitcoin’s decline has created correlated selling pressure across altcoins, with XRP’s 1.72% drop reflecting this broader risk-off sentiment in digital assets. XRP Technical Analysis: Testing Lower Band Support Price Action Context Ripple technical analysis reveals XRP trading below all major moving averages, with the current $2.23 price sitting 6.6% below the 20-day SMA at $2.45 and 16.2% below the 50-day SMA at $2.66. The XRP price action shows clear bearish momentum divergence from Bitcoin, which has maintained better relative strength against its own moving averages.…

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Filed under: News - @ November 7, 2025 1:26 am