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- XRP-USD
Quick Read
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XRP dropped 8% despite three bullish catalysts: Evernorth’s Nasdaq debut, a Standard Chartered Dubai deal, and $8M in ETF inflows.
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Standard Chartered’s custody service targets Ripple’s stablecoin, not XRP itself, meaning clients aren’t required to hold XRP at all.
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Analysts watch the $1.35 to $1.38 range as support. A close below $1.32 signals further downside, while a move above $1.45 could reignite buying.
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XRP (CRYPTO:XRP) fell 8% over the past week, despite three pieces of favorable news. Evernorth, a company that holds about 473 million XRP, debuted on Nasdaq. Additionally, Standard Chartered launched custody for Ripple’s stablecoin on the XRP Ledger in Dubai, and fresh XRP inflows were reported. So why did XRP still decline amidst all this good news?
As of October 13, 2026, XRP is trading at $1.36, having fluctuated between $1.31 and $1.41 in the last 24 hours. Over the past month, the cryptocurrency is up just 1.3% and remains more than 62% below its all-time high.
Traders Sold Into the Expected Nasdaq Listing
As a public company, Evernorth holds cryptocurrency as its primary asset. This means that investors in Evernorth indirectly gain exposure to XRP’s value. However, many traders anticipated its Nasdaq listing well before it happened.
This expectation likely led some speculators to sell their XRP once the listing occurred, following a classic market strategy known as “buy the rumor, sell the news.” This often creates a temporary price peak right before a widely anticipated event, as those who wanted to invest had already bought in. Thus, rather than generating new buying interest, the listing prompted holders to cash out.
Standard Chartered’s Deal Focuses on Ripple’s Stablecoin, Not XRP
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Source: finance.yahoo.com