XRP News Today: Ripple Token May Drop 30% As US–Iran War Escalates

XRP (XRP) continued its downside on Monday, falling 1.45% to $1.36, its lowest point in two weeks, amid an escalating US–Iran war.

Donald Trump threatened strikes on Iranian power plants unless Tehran reopened the Strait of Hormuz, a critical global energy chokepoint, within 48 hours.

Iran responded by warning that any attack on its fuel or power infrastructure would be met with retaliatory strikes on regional energy and electricity facilities tied to US interests.

XRP Treasury Company Files For Nasdaq IPO

Late last week, Evernorth Holdings filed a Form S-4 with the US Securities and Exchange Commission (SEC) in connection with its planned merger with Armada Acquisition Corp. II, a Nasdaq-listed special purpose acquisition company trading under the ticker XRPN.

The transaction is backed by more than $1 billion in gross proceeds from investors, including Ripple, SBI Holdings, Pantera Capital, Kraken and Arrington Capital.

Evernorth said the merger would create a publicly traded XRP treasury company with roughly $1 billion in XRP holdings. The deal remains subject to SEC review, shareholder approval and other customary closing conditions.

Evernorth CEO Explains Why XRP Prices Are Down

A perceived disconnect between XRP’s market price and adoption metrics drew fresh attention after Evernorth CEO Asheesh Birla commented on the issue in a March 21 post on X while reposting company data on XRP Ledger activity.

The post Birla shared said XRP transactions were nearing 3 million per day this week, up from about 1 million per day in mid-2025, citing XRPScan data as a sign of rising network usage.

Responding to that backdrop, Birla said XRP was still not functioning as a liquidity bridge at scale, which he suggested helps explain why market pricing has not moved in step with adoption-related indicators.

He added that the type of utility demand Evernorth is watching most closely is whether banks and businesses begin using XRP as working capital, framing that as a more meaningful signal of institutional deployment.

XRP Technicals Signal 30%-Plus Price Drop

XRP appears to be forming a classic bear pennant on the daily chart following a sharp drop in early 2026, with price consolidating between converging trendlines.

This pattern typically signals continuation of the prior downtrend. XRP is currently trading near the apex, increasing the likelihood of a decisive move soon.

A confirmed breakdown below the lower trendline could trigger a continuation toward the measured target near $0.90, implying roughly a 30% decline from current levels.

The structure remains bearish while price stays below key exponential moving averages (EMAs), which continue to act as dynamic resistance.