According to reports, Evernorth — a Ripple-backed treasury firm — has agreed to merge with Armada Acquisition Corp II and plans to list under the XRPN ticker.

The SPAC deal aims to raise $1 billion to build what Evernorth calls a large XRP treasury. Ripple and co-founder Chris Larsen contributed XRP to the project.

Nine days after the SPAC announcement, reports said Evernorth had already received $1 billion worth of XRP. The merger is targeted to close in Q1 2026.

On Contributions & Cash Buying

Because the early inputs were paid in XRP rather than cash, immediate upward pressure on exchange order books did not happen.

Market purchases require fiat or cash to be placed into public markets. SBI’s announced $300 million cash pledge is one example of money that could be used to buy XRP outright.

But so far most of the headline amounts are XRP moved into a treasury, not fresh cash hitting exchanges.

It is my understanding the new @evernorthxrp venture will raise $1BN through XRP direct investment, as announced and as we’ve seen on the chain.

So you thinking “how will that affect open market XRP?”. Let me explain.

There next plan is to IPO on stock exchange. This will raise…

— Vincent Van Code (@vincent_vancode) October 27, 2025

Analyst Signals Incoming ‘Shock’

Vincent Van Code, a software engineer and active voice in the XRP community, told followers on X that the bigger event may still be ahead.

He said the IPO itself could bring billions in new cash. If those funds are later used to buy XRP on the open market, he warned, existing supply could tighten and a “supply shock” might follow.

Van Code did not offer a fixed timetable. Other commentators, including a market voice known as Nietzbux, have already framed the development as strongly bullish for XRP.

Why The Timing Matters

Based on reports, the sequence is what could change prices: cash raised first, then purchases on public markets. If that order is reversed — cash arrives and large buys follow quickly — liquidity could be tested.

Exchanges have varying depth. A single large buyer can move prices more in thin markets than in thick ones. That is simple market mechanics. It is also why some community members are watching the SPAC schedule closely.

There will come a time where XRP and XRPL is just where you keep most of your wealth. That is called Treasury.

Hint hint.

— Vincent Van Code (@vincent_vancode) October 17, 2025

XRP’s Role And The Broader Narrative

A number of developers and analysts now speak of XRP not only as a payment bridge but also as a treasury asset inside the XRPL ecosystem.

Van Code suggested that a time may come when people keep a big share of their wealth in XRP and on the XRP Ledger.

Ripple’s CTO David Schwartz has emphasized similar ideas about self-custody and on-ledger utility. Those themes are being reused as part of the argument for long-term demand.

Featured image from Gemini, chart from TradingView

Ripple’s recent moves are drawing new attention after Western Union picked Solana for a USDPT rollout in 2026. According to supporters of XRP, that headline misses a bigger picture: Ripple has been buying firms that touch much larger pools of money.

Western Union’s deal could steer over $100 billion in annual cross-border flow to Solana. But some say that sum is small compared with the pipelines Ripple is tying into.

Trillions Not Billions

Based on reports, Ripple has added firms that already sit inside massive payment and liquidity systems. Hidden Road, a global prime brokerage, clears about $3 trillion a year.

GTreasury provides treasury tools that move trillions in payments across 160+ countries. Rail handles roughly 10% of all stablecoin-based payment volume worldwide.

Those figures matter because ownership gives a different kind of access than a short-term partnership does.

many of you have asked for my thoughts on the western union x solana announcement, so here they are.

TLDR: billions are cool, but trillions are cooler.

while western union handles billions of dollars each year, ripple is on its way to handling trillions of dollars each year.…

— Dom | EasyA (@dom_kwok) October 29, 2025

Market Comment And Skepticism

Market voices pushed back. Scott Melker questioned XRP’s current role after Western Union chose Solana, noting Western Union had tested the XRP Ledger for years.

That choice has prompted debate about whether XRP still matters for big global payments right now. At the same time, Ripple’s backers argue a deeper story exists beyond which chain a single company picks for its stablecoin.

XRP As The Settlement Layer

According to Dom Kwok, co-founder of EasyA, the proper lens is scale. He says the conversation should not center on deals worth billions but on the trillions Ripple now touches through acquisitions.

Kwok and others suggest those companies could be steered to use the XRP Ledger for settlement over time. Ripple’s own technology and business moves are being framed as the plumbing that could let XRP settle large, institutional flows.

Supporters Speak Up

Flare CEO Hugo Philion has also downplayed the Western Union news, saying it does not undercut Ripple’s strategy. Based on reports from community figures, some engineers and analysts now say XRP could shift from a bridge token to a place people hold value.

There will come a time where XRP and XRPL is just where you keep most of your wealth. That is called Treasury.

Hint hint.

— Vincent Van Code (@vincent_vancode) October 17, 2025

Vincent Van Code told followers that “a time will come when XRP and the XRP Ledger are just where you keep most of your wealth,” a view which mirrors comments by Ripple’s CTO David Schwartz about users acting as their own banks.

Ownership Vs. Partnerships

When a company owns a platform, it can choose how that tool grows. Reports show acquisitions give Ripple a steadier role in payments and trading services than a single contract would. Yet ownership does not guarantee instant change. Moving institutional flows onto a specific ledger is complex and can take time.

What This Means Going Forward

For now, the debate will track two threads. One asks whether wins like Western Union’s Solana deal signal broader market preference. The other watches whether Ripple’s purchases translate into actual settlement volume for XRP.

Numbers such as $3 trillion, trillions across 160+ countries, and 10% of stablecoin payments give weight to the second view. But adoption at scale is not automatic, and observers will be looking for clear signs that those trillions are truly shifting toward the XRP Ledger.

Featured image from Shutterstock, chart from TradingView

According to macro analyst Jordi Visser, dormant bitcoin is moving again and new buyers are stepping in. Visser spoke on Anthony Pompliano’s podcast and wrote about the trend on Substack, saying old holders are slowly selling while fresh investors pick up coins on dips. He compared what’s happening to an IPO (initial public offering), where early backers cash out and ownership spreads to a wider group.

Price Action Has Been Flat And Frustrating

Bitcoin traded between $109,000+ and $110,500+ over the last seven days, a range that has left traders impatient. Reports show the Crypto Fear & Greed Index returned “fear” readings since Wednesday and averaged fear during the prior week. Yet every pullback has been met by buyers, which suggests accumulation is taking place even as sentiment reads poorly.

Network Signals Remain Strong

Visser pointed to several industry signals as evidence that this is not a collapse. ETF approvals keep arriving, the bitcoin network hashrate has hit new highs, and stablecoin activity is growing.

It was a busy week with many macro catalysts (Us-China, Fed, Mag7 earnings and Zelle/Stabledoins). Pomp and I go through it all and how the last two months look for assets. https://t.co/1mv6FCNYGF

— Jordi Visser (@jvisserlabs) November 1, 2025

Those facts are being cited by analysts who argue the market is redistributing holdings rather than unraveling. In other words, supply is moving from long-idle wallets into hands that buy on weakness.

What This Means For Volatility

Based on Visser’s view, the current phase could continue for some time. He estimates an IPO-like cycle can last about six to 18 months in traditional markets, and while bitcoin moves faster, the process may still stretch toward the six-month mark on his timeline.

When distribution finishes, one likely result is lower volatility, because ownership will be scattered across more participants instead of concentrated among early believers.

No Loud Signal Expected To Mark The Shift

Reports have disclosed that the change may not start with a big breakout or collapse. Instead, the market could simply stop grinding and begin a clearer move as distribution completes.

That lack of a single trigger is frustrating for traders who want a clear sign, but it is familiar to anyone who has watched post-IPO stocks settle after lock-up expiries.

A Measured Take On The Market

Visser’s interpretation is cautious rather than bullish hype. He does not promise a rapid rally. He points to steady on-chain activity and institutional interest as the backbone supporting his thesis.

Featured image from Pexels, chart from TradingView

According to analyst Trader Tadrigrade, Dogecoin has been moving inside a long-running symmetrical triangle that echoes a setup seen in 2016–2017. Based on reports, the analyst used a two-month chart to compare current price action with the buildup that preceded a breakout in March 2017.

Back then, DOGE climbed from about $0.0003 to $0.0194 by January 2018, a rally of 7%. Traders pointing to that episode say the current narrowing range looks familiar and could set the stage for a notable move.

Market Moves This Month

DOGE is trading at around $0.18 at the time of writing after a 20% drop so far this October. That decline contrasts with recent Octobers: a 40% rise in October 2024, a 10% gain in October 2023, and a 100% jump in October 2022.

Prices have been compressing inside the triangle since late 2024, and the tighter range has increased talk among chart watchers that a breakout may be near.

$DOGE/2-month#Dogecoin is following its first cycle pic.twitter.com/FNFJo3C59I

— Trader Tardigrade (@TATrader_Alan) October 30, 2025

Targets After A Breakout

Analysts who favor the pattern point to a first target near $3.90, which would represent about a 2,000% gain from current levels if reached. Other, much bolder projections are also being shared.

One chart shown by bulls extends toward $48 — a 26,500% rise — which, if circulating supply stayed near 151 billion tokens, would imply a market value near $7 trillion. That number would dwarf most global asset classes and is widely seen as highly unlikely.

Reports have also referenced an $18 forecast last month, a level that would make many holders wealthy if it materialized, but it remains a long shot.

Technical Patterns Versus Broader Forces

Pattern recognition can offer a clear rule for traders, but charts do not capture everything that drives price. Liquidity levels, investor interest, moves in Bitcoin, and shifts in social attention all affect how far any rally can run.

For a multi-thousand percent surge to happen, sustained buying and extended public attention would be required. At present, the view rests primarily on a visual similarity between past and present setups rather than on independent signals that a major rally is guaranteed.

Featured image from Pexels, chart from TradingView

Mike Novogratz’s Galaxy Digital has moved more Bitcoin out of its wallets, stirring fresh debate about whether big players are selling or just handling client business.

According to on-chain trackers and posts shared by analytics firm CryptoQuant, a total of 1,531 BTC was recently transferred out of wallets linked to Galaxy.

Galaxy’s Client Trades

Galaxy acts as both a merchant bank and a trading desk for institutions, so large transfers don’t always mean the firm is cutting its own exposure.

Reports have pointed out that Galaxy has executed major client orders before — including a notional sale of over 80,000 BTC in the past quarter — and many of those trades are handled off-exchange via OTC channels.

Those facts make it hard to read short-term outflows as pure profit-taking by Novogratz’s firm.

Galaxy Digital Outflow Spikes

Over 1,531 BTC moved out of Galaxy Digital wallets — a clear sign of rising short-term selling pressure in the market. pic.twitter.com/6BdsOZFatM

— Maartunn (@JA_Maartun) October 31, 2025

On-Chain Pattern Adds Detail

The 1,531 BTC movement follows a string of recorded outflows. For example, trackers logged an outflow of 411 BTC on Oct. 24, suggesting this isn’t an isolated blip but part of several recent transfers tied to the firm’s wallets.

Some analysts say the pattern looks like growing selling pressure. Other market watchers say the sums are consistent with client execution and rebalancing.

Market Sentiment Split

Sentiment indicators show a split mood. Social measures and the so-called Fear and Greed gauge have dipped into fear territory lately. Yet heads of some asset managers argue the opposite.

Bitwise CEO Hunter Horsley has said institutions are “rushing in,” and he points to growing institutional interest as a signal that demand is building at higher levels.

Those two views sit at odds: visible outflows and rocky short-term flows on one side, and growing institutional allocation on the other.

Price Context And What It Means

Bitcoin has been trading just a little over $110,000 as these moves happen. That price level matters because traders watch it as a barrier for bulls.

When big transfers land near key price points, they get extra attention; some see them as profit-taking, others as routine client service. Either way, the net effect on price depends on whether buyers step in to absorb the supply.

Signals Traders Are Watching

Keep an eye on three items: ETF flows, OTC activity, and on-chain outflows from known custodians. Spot crypto ETFs have shown net withdrawals in recent weeks, which can sap demand even if big institutions are slowly buying elsewhere.

If ETF outflows persist while wallets tied to major brokers keep moving coins out, price pressure may rise. But if inflows return to spot ETFs or large buyers match the OTC sales, that pressure can ease quickly.

Featured image from Unsplash, chart from TradingView

According to company releases and club statements, House of Doge and Brag House Holdings, Inc. have taken a major step into Italian football by becoming the largest equity holder in US Triestina Calcio 1918.

The move was first made public on October 20, 2025, when both firms announced the equity position and pledged immediate capital support for the club.

Triestina, which was founded in 1918 and currently competes in Serie C, will carry Dogecoin branding on its match kits and around its stadium for the remainder of the 2025/26 season and all of the 2026/27 campaign.

Kit And Stadium Branding Confirmed

Based on reports released on October 30, 2025, Dogecoin will appear as the primary sponsor on the front of Triestina’s official match shirts.

House of Doge branding is set for secondary placements, such as sleeves and shorts. LED boards inside the ground, big-screen videos and press backdrops will also display the Dogecoin motif during games and media events.

These activations are part of a wider plan that includes testing Dogecoin as a payment option for tickets, merchandise and concessions.

What The Announcements Leave Out

The deal’s exact financial terms were not disclosed. No price tag or ownership percentage was published by either side. Reports have disclosed that a board reconstitution and the appointment of a new president are planned, but names and dates have not been shared.

Push For Real-World Use Of Dogecoin

House of Doge framed the investment as a chance to push Dogecoin beyond online chatter and into everyday use at a sports venue. The group said the club will act as a platform for broader community initiatives and commercial experiments with crypto payments.

Fans could be given new ways to pay and buy, if pilot projects roll out as described. There is, however, a question about how smoothly such systems will be adopted in a lower-division club environment and what regulatory checks will be required in Italy.

Marco Margiotta, CEO of House of Doge, said placing the Dogecoin logo front-and-center on the club’s jersey means it will show up in every match photo and TV shot.

He said frequent exposure will make people recognize the brand, and that recognition can lead to practical uses and wider global acceptance.

Local Reaction And Broader Implications

Some local journalists praised the capital boost, noting that lower-division clubs often face tight budgets. Others warned that visibility for a cryptocurrency brand does not guarantee long-term financial stability.

Market observers will be watching whether the partnership drives measurable increases in matchday revenue or merchandise sales.

Community groups, who are central to the club’s identity in Trieste, have been cited as needing reassurance that traditions will be respected.

DOGE Price Update

Meanwhile, after sliding about 7% in the past 24 hours, DOGE is trading at $0.18. The coin is up 11% so far this year, but that still leaves it roughly 70% below its 2021 peak of $0.73.

Featured image from Unsplash, chart from TradingView