Can XRP Price Rebound Toward $1.60 as Evernorth Expands Its Wall Street Presence?
XRP price faces another critical test near $1.25, where a potential rebound could put $1.42 and $1.60 back in focus. Ali Charts has identified a descending parallel channel on the hourly chart, suggesting the token could fall further before buyers regain control. Meanwhile, Evernorth’s Nasdaq debut is expanding institutional exposure to XRP through a publicly traded treasury strategy. With key support under pressure and institutional developments drawing attention, traders are watching whether XRP can establish a floor and reverse its recent decline.Evernorth Expands XRP’s Institutional Presence on Wall StreetEvernorth Holdings has brought its XRP-focused treasury strategy to U.S. public markets through its Nasdaq listing under the ticker XRPN. The company entered the market with approximately 473 million XRP and around $300 million in gross cash proceeds, before transaction expenses.🚨 JUST IN: Evernorth rings the Nasdaq closing bell as brings to Wall Street. Evernorth has also announced institutional execution partnerships with Ripple, Coinbase, Kraken and BitGo. It plans to begin deploying its XRP treasury through institutional strategies in the fourth quarter of 2026. The strategy aims to generate returns from XRP holdings while supporting activity across the ecosystem. Its public listing also gives traditional-market investors another way to gain exposure to an XRP-focused company without directly holding the cryptocurrency.However, Evernorth’s existing treasury does not automatically translate into fresh XRP purchases. Its potential impact on the token will depend on future accumulation, treasury deployment and actual market demand.XRP Price Analysis: Ali Charts Identifies $1.25 as Key SupportXRP token price appears to be trading within a descending parallel channel on the hourly chart, according to Ali Charts. The technical setup suggests the token could continue declining toward the channel’s lower boundary near $1.25 before attempting a meaningful recovery.The $1.25 level is the analyst’s potential buying zone. A successful defense could trigger a rebound toward the channel’s midpoint near $1.42. If bullish momentum strengthens, XRP could then advance toward the upper boundary around $1.60.XRP REBOUND INCOMING!? appears to be trading inside a parallel channel on the hourly chart.This structure suggests XRP could still drop toward the lower boundary around $1.25 before seeing a meaningful rebound.That’s the level I’m watching for a potential buying… The key levels are:$1.25 support: The lower channel boundary and potential rebound zone.$1.42 resistance: The first recovery target near the channel’s midpoint.$1.60 resistance: The upper channel boundary and next potential upside target.A decisive breakdown below $1.25 would weaken the bullish scenario and expose the token to further downside.A move toward $1.42 would provide an initial sign of recovery, while a sustained advance toward $1.60 would require stronger buying pressure. Neither target is confirmed.What’s Next For XRP?XRP’s recovery prospects will depend on broader crypto-market sentiment and whether institutional developments translate into sustained demand. Evernorth’s treasury strategy adds another avenue for institutional exposure, but its impact on XRP will depend on future capital deployment and accumulation. For now, traders need confirmation of renewed buying interest before treating the current decline as a reversal.