Ripple-backed Evernorth’s stock sell-off comes as ChartNerd maps a potential $5–$8 XRP recovery over the coming years.
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Key Takeaways
Ripple-backed Evernorth shares fell 23.5% after a prospectus covering potential resales of almost 73.7 million shares.
A weaker share price could complicate future equity-funded XRP purchases.
ChartNerd maintains a longer-term $5–$8 XRP outlook while identifying 2029 as a possible next cycle peak.
Ripple-backed Evernorth shares plunged 23.5% on Nov. 10 as investors confronted a large potential share-resale overhang, while a viral XRP forecast suggested holders could face a three-year wait for the token’s next major peak.
Evernorth’s Nasdaq-listed XRPN stock closed at $7.96, down from $10.41 the previous session, following a final prospectus dated Nov. 9 covering almost 73.7 million shares for potential resale.
The sell-off puts attention on the company’s ability to finance further XRP accumulation through its stock.
Meanwhile, analyst ChartNerd retains a longer-term $5–$8 XRP range but says historical cycle intervals point toward approximately June 2029 as a possible next peak.
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The prospect of almost 73.7 million shares becoming available for resale has put Evernorth’s shareholder base under scrutiny—but the filing does not establish that investors are heading for the exit.
Its Nov. 9 SEC prospectus registers existing shares alongside stock that could be issued through conversions, exchanges, and warrant exercises.
Those resales would primarily benefit the selling shareholders rather than replenish Evernorth’s funds for XRP purchases.
“We will not receive any proceeds,” the company states, with a separate exception for money received through warrant exercises.
There is also a restriction on how quickly some major backers can move.
Holders, including Ripple, remain subject to six-month lockups, although the agreements contain exceptions that allow transfers with the company’s consent.
Falling Shares Could Complicate XRP Accumulation
The company has lined up a separate funding arrangement that allows it to sell up to 5.22 million newly issued shares to CF Principal Investments, a Cantor affiliate.
When Evernorth announced the facility on Oct. 26, it estimated that full execution could raise around $80 million, based on its Oct. 22 closing share price.
That estimate depends on the price at which it sells the shares.
A weaker valuation means that issuing the same number could raise less money, potentially reducing the capital available for further XRP purchases.
Evernorth said the proceeds could support XRP acquisitions, ecosystem development, and general corporate purposes as it pursues “strategies designed to grow XRP per share over time.”
ChartNerd Eyes $5–$8 XRP — but Says Recovery Could Take Years
While Evernorth faces pressure in the stock market, analyst ChartNerd argues that XRP investors may need to reset their expectations for how quickly a substantial recovery could arrive.
In his latest video, he compared XRP’s cycle peaks in 2013, 2018, 2021, and 2025, estimating an average interval of roughly 1,400 days.
Applying that historical pattern to the latest peak points toward approximately June 2029.
However, he repeatedly cautioned against treating that date as a reliable forecast.
“I’m completely speculating here. It’s a shot in the dark.”
ChartNerd said his longer-term Fibonacci extension targets remain between $5 and $8, describing that range as “relatively logical.”
His bullish case depends in part on XRP maintaining an ascending support structure of higher lows since 2020.
“This structure for me is critical to hold for continuation of this trend.”
He warned that XRP could revisit that support or form a double bottom before recovering. His shorter-term target range was $1.04–$1.16 following rejection around $1.70.
ChartNerd also acknowledged that institutional demand and ETFs introduce factors absent from earlier cycles, although he did not provide figures quantifying their potential impact.
XRP has previously spent months—or years—moving sideways before breaking higher, and he warned against assuming that $3, $5, or $8 must arrive within the next few months.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Kurt Robson is a London-based reporter at CCN, specialising in the fast-moving worlds of crypto and emerging technology. He began his career covering local news in Cornwall after graduating from Falmouth University with First Class Honours in Journalism. There, he cut his teeth on everything from council meetings to missing swans.
He quickly rose through the ranks to become a frontline journalist at several of the UK’s leading national newspapers. Over the years, he has interviewed musicians and celebrities, reported from courtrooms and crime scenes, and secured multiple front-page exclusives.
Following the upheaval of the COVID-19 pandemic, Kurt shifted his focus to technology journalism—just ahead of the AI boom. With a natural curiosity and a trained eye for emerging trends, he has found a new rhythm in reporting on innovation.
At CCN, Kurt's work focuses on the cutting edge of crypto, blockchain, AI, and the evolving digital world. Drawing on his background in people-first reporting and his deep interest in disruptive tech, Kurt delivers stories that are insightful, entertaining, and human-centric.
