While the cryptocurrency market remains fixated on Bitcoin hovering around $70,000, XRP is quietly building momentum as major institutional players get involved. Two major events are converging this March 2026: on one hand, Ripple-backed Evernorth has filed an S-4 with the SEC for a $1 billion SPAC merger aiming for a Nasdaq listing, and on the other hand, Ripple is set to unlock 1 billion XRP on April 1st. In this context, the XRP price is currently testing a critical support level at $1.36.
Wall Street Embraces the XRP Ledger
The most significant event this week is Evernorth Holdings’ filing of Form S-4 with the U.S. Securities and Exchange Commission. This Ripple-backed company has entered into a SPAC merger agreement for approximately $1 billion, with the goal of listing on Nasdaq. The new entity, to be traded under the symbol XRPN, will hold more than 473 million XRP in its treasury, equivalent to several hundred million dollars at current prices.
This operation represents a major breakthrough for the XRP ecosystem. For the first time, institutional investors will be able to gain exposure to XRP through a listed vehicle without having to hold tokens directly. Goldman Sachs has already started using this traditional gateway: the investment bank has revealed holdings of $153.8 million in XRP ETFs, demonstrating growing interest from the banking sector in this digital asset.
Ripple’s geographical expansion adds an extra dimension to this momentum. The company is strengthening its presence in Brazil and Latin America, where 72% of regional finance leaders view cryptocurrencies as essential for treasury solutions. XRP, used as a liquidity bridge for cross-border transfers, is directly benefiting from this regional adoption.
The April Unlock Mechanism
On April 1, 2026, Ripple will proceed with the monthly unlock of 1 billion XRP under its escrow system in place since 2017. This mechanism, which automatically releases up to 1 billion tokens at the start of each month, is part of Ripple’s strategy to maintain supply predictability and minimize market impact.
History shows that the actual impact of these unlocks is generally limited. In March 2026, of the 1 billion XRP released, 700 million were re-introduced into escrow, leaving only 300 million for Ripple’s operations. This proportion of 60 to 80% re-escrow is consistent with previous months, suggesting the market has become accustomed to these cyclical events.
The current XRP price around $1.45, up nearly 4%, reflects this resilience. Even though 2026 has been a difficult year for cryptocurrencies with a 26% decline from the early-year high around $2.70, XRP seems to be absorbing selling pressure from massive unlocks.
Technical Analysis: $1.36 as the « Line in the Sand »
On the 2-hour chart of XRP/USD, several technical elements deserve attention. The price is currently moving toward a horizontal support zone between $1.36 and $1.37. This zone also corresponds to the main upward trendline, creating a support convergence that buyers have historically defended.
If the price were to break below this support level, technical analysts anticipate a downward acceleration toward the $1.20 threshold. This is therefore a critical level for XRP’s short-term chart structure.
On the resistance side, significant obstacles are noted at $1.4379 and $1.4815. Moreover, XRP is currently trading below its 50-day moving average and its 200-day moving average (located at $2.14), which confirms the underlying bearish trend and constitutes technical barriers to any rebound attempt.
The RSI (Relative Strength Index) indicator stands around 40 and shows downward momentum, suggesting the price could still decline before the asset enters oversold territory. Traders generally expect a test of the trendline support before considering any rebound.
2026 Outlook: Is $3 Still on the Table?
Despite the 26% drop from early-year highs, the long-term outlook for XRP remains constructive for many analysts. The regulatory clarity brought by the resolution of the SEC lawsuit in 2024 removed a sword of Damocles that had weighed on the price for several years.
Prediction markets currently give XRP a 41% chance of reaching $1.60 by the end of the month. To reach the $3 target, analysts generally believe XRP will need stronger overall market conditions and sustained ETF inflows.
XRP now needs to prove itself. The resolution of the SEC lawsuit set the stage, and the Nasdaq SPAC merger is the next major event. How XRP holds up at the $1.36 support level over the coming days will show how strong the buyers really are. The April 1 unlock approaches, and with it, a new test of the market’s confidence in this digital asset that bridges traditional finance and the crypto world.
Sources: FX Leaders, Phemex, Finbold, Cryptopotato, Nasdaq
