Ripple and the XRP ecosystem began September with institutional developments, including a Bitwise XRP ETF surpassing $500 million in assets under management, a partnership with SettleMint for tokenized asset custody, and regulatory progress for Evernorth’s Nasdaq listing. XRP’s price, however, remained under pressure, trading near $1.35 after failing to sustain its August rally to $1.70. Analysts noted resistance at $1.40–$1.50, with a drop below $1.30 possible if those levels are not reclaimed.
Ripple’s ecosystem saw multiple institutional advances in early September. Bitwise’s spot XRP ETF has surpassed $500 million in assets under management only nine months after launch, holding about $507 million after Monday’s close. US spot XRP ETFs had attracted a record $1.66 billion in cumulative net inflows by the end of last week, with Bitwise’s product leading the category at more than $600 million in cumulative inflows.
Ripple Labs and SettleMint launched a partnership to integrate Ripple Custody with SettleMint’s Digital Asset Lifecycle Platform. The offering allows regulated financial institutions to custody, issue, and manage tokenized assets through a single system, already live in Asia with expansion planned. The partnership targets banks, market infrastructure operators, and sovereign entities, while RLUSD and XRP support Ripple’s institutional solutions.
Evernorth, an XRP-focused treasury company, cleared a regulatory hurdle after the SEC declared its registration statement effective. Shareholders of merger partner Armada Acquisition Corp. II are scheduled to vote on the transaction on September 30th. If approved, the combined company is expected to trade on Nasdaq under the ticker XRPN, with Evernorth disclosing more than $1 billion in gross proceeds from investors including Ripple, SBI Holdings, Pantera Capital, Kraken, and Arrington Capital.
XRP traded at around $1.35 at the time of writing, with a market capitalization nearing $85 billion. It slipped about 2% in the past few days and dropped 6% on the weekly chart. Analysts remain divided, with some seeing $1.70 as the next major target if the current breakout holds, while others highlight resistance at $1.40 to $1.43 followed by $1.50, warning that failing to break above these levels could signal weakness and a drop below $1.30.
