XRP (CRYPTO: XRP) slipped 2% on Wednesday after touching a session high of $1.39, giving back most of the prior session’s 5% gain, yet U.S.-listed XRP spot ETFs recorded $3.32 million in net inflows on April 7.

The Quantum Safety Check

Roughly 300,000 accounts on XRP holding 2.4 billion XRP never transacted, meaning their public keys are unknown and quantum safe. 

Only 2 accounts with larger holdings of 21 million XRP are dormant (inactive over 5 years) and have their public keys exposed.

Dormant vulnerable XRP whales are almost nonexistent. The rest are active and have their public keys exposed but can reasonably rotate keys if needed. 

This differs from Bitcoin (CRYPTO: BTC) where larger holdings like Satoshi’s are dormant with public keys exposed.

Only 0.03% of XRP supply faces potential quantum vulnerability from dormant whale accounts.

The Evernorth SPAC Merger

Evernorth filed an SEC amendment on April 7 advancing its SPAC merger with Armada Acquisition Corp II (NASDAQ:XRPN). 

The deal aims to create the largest public XRP treasury company.

Evernorth raised over $1 billion and plans to list under ticker “XRPN” on Nasdaq. 

Investors include Arrington Capital, Ripple, SBI Holdings, Pantera Capital, and Kraken. Ripple contributed 126.8 million XRP.

The merger awaits SEC approval and Armada shareholder votes.

XRP Technical Outlook

U.S.-listed XRP spot ETFs recorded $3.32 million in net inflows on April 7, bringing cumulative flows to $1.21 billion across five products from Bitwise, Canary Capital, Franklin Templeton, 21Shares, and Grayscale. 

XRP trades around $1.35 after briefly hitting $1.39. The token has struggled to hold recoveries since peaking near $1.62 in mid-March.

A descending trendline has capped every rally over the past three weeks. 

The 20-, 50-, and 100-period EMAs sit between $1.33 and $1.39, with the 200 EMA at $1.38 acting as resistance.

Key support sits at $1.33-$1.34. A break there targets $1.28. A daily close above $1.40 would signal the three-week correction may be ending.

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