XRP
XRP Drops to $1.47 Amid Broader Crypto Liquidations and Evernorth Listing Delay
A wider market sell-off and derivative liquidations pushed XRP lower as Evernorth postponed its planned Nasdaq debut.
XRP declined 2.60% over 24 hours to trade near $1.47, moving toward a support zone between $1.45 and $1.50 following a sharp downturn across the wider cryptocurrency market.
The decline coincided with a sudden drop in Bitcoin on October 6, which triggered approximately $394 million in market-wide leveraged long liquidations within an hour. XRP experienced roughly $11 million in long liquidations as traders cut risk, sending the asset below short-term technical levels.
At the same time, Evernorth announced an administrative delay regarding its business combination with Armada Acquisition Corp. II. The merger closing is now expected around October 9, pushing the anticipated Nasdaq listing under the ticker XRPN from October 8 to approximately October 12, though the company stated the timeline change does not affect the transaction's completion.
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