XRP Price Targets $2 as Evernorth Secures $30 Million Funding
XRP's price is making a comeback after dropping earlier in the week. At the time of writing, XRP is trading at $1.32 with a market capitalization of around $83 billion and a 24-hour trading volume of approximately $4.02 billion.
The token has gained 1.54% over the last 24 hours, but it still remains below the critical technical level of $1.55. According to crypto analyst Ali Martinez, XRP is forming an inverse head-and-shoulders pattern on its daily time frame, which could lead to a 35% move to $2 if the resistance zone breaks.
Evernorth, an XRP-centered treasury company, has secured $30 million in funding from NH Investment & Securities. This capital can be invested in XRP and other activities surrounding the XRP ecosystem, potentially adding institutional buying pressure to the market.