Evernorth, a company funded by Ripple and engaged in digital assets, has completed a merger with Armada Acquisition Corp. II and plans to list on Nasdaq under the ticker XRPN on October 12. The deal includes 473 million XRP and $300 million in cash, providing Evernorth with the resources to execute its strategy.
Amid rising volatility, the cryptocurrency market experienced a decline: Bitcoin fell to an October low of $80,420 on October 9 but recovered to $82,949 by October 10. Pressure on the market remains high: U.S. authorities transferred 17,733 BTC to Coinbase Prime, amounting to approximately $1.484 billion. Bitcoin spot ETFs in the U.S. recorded a net outflow of $244.13 million on Thursday. The $80,000 level remains an important support, while $87,000 continues to act as resistance.
Ripple has implemented the PermissionDelegationV1_1 feature in the XRP Ledger, which allows certain powers to be delegated to third parties without revealing master keys. The feature allows up to 10 roles to be assigned to external applications, simplifying account management for institutional users. Activation took place on October 8. Additionally, Ripple moved 200 million XRP between its own addresses and then sent 20 million XRP to a new address. According to the European Securities and Markets Authority (ESMA), crypto companies in the EU are required to close positions in stablecoins that do not comply with MiCA by January 8, 2027, adding pressure on platforms serving European clients.
This material is prepared solely for informational purposes and does not constitute financial advice or a recommendation.