XRP Slumps Ahead of Evernorth Nasdaq Debut, Technical Selling Takes Hold
XRP traded at $1.48 on Saturday, down by over 3% in 24 hours, underperforming a slightly weaker crypto market.
According to crypto analysts, XRP's trajectory is being shaped by foundational institutional progress, including public treasury listings, bank integrations, and ETF advancements.
The upcoming Evernorth Nasdaq debut on October 8 is a significant catalyst for XRP, as it will create a new, regulated vehicle for institutional investment.
However, a significant portion of the raised capital has already been used to purchase XRP, limiting immediate new buying pressure.
The Bitwise XRP ETF received an SEC review of effectiveness notice, a major milestone that completes its registration statement review, paving the way for another institutional investment product.