Bitcoin slides to October low near $80,000 as Evernorth readies XRPN Nasdaq debut
In brief
- Bitcoin fell from the $87,000 area to an October low of $80,420 on Oct. 9.
- U.S. spot Bitcoin ETFs recorded $244.13 million in net outflows on Oct. 8.
- Evernorth expects to begin trading on Nasdaq as XRPN on Monday, Oct. 12, per a filing.
- XRP Ledger activated PermissionDelegationV1_1 on Oct. 8, allowing up to 10 delegated roles.
Bitcoin tests $80,000
Selling pressure built through the week. Bitcoin dropped from around $87,000 toward $80,000, and by Oct. 10 it was trading near $82,949 after a bounce (U.Today put that bounce at around $80,300, slightly below the $80,420 low it cited elsewhere in the same recap). The outlet's analysis framed the range like this:
The $80,000 level remained an important support area, while $87,000 continued to act as resistance.
Flows didn't help. U.S. spot Bitcoin ETFs saw $244.13 million in net outflows during Thursday's Oct. 8 session, per U.Today, which also reported that U.S. authorities transferred 17,733 BTC (worth about $1.484 billion) to Coinbase Prime.
Evernorth heads to Nasdaq
Evernorth is a Ripple-backed company building an XRP-focused digital asset treasury. According to a regulatory filing reported by U.Today, it's completed its merger with Armada Acquisition Corp. II and expects to begin trading on Nasdaq under the ticker XRPN on Monday, Oct. 12.
The deal involved Evernorth, Pathfinder Digital Assets, Ripple, Armada and two merger subsidiaries. Pathfinder and the former Armada entity became wholly owned subsidiaries of Evernorth, and U.Today's account of the filing ties the transaction to roughly 473 million XRP and $300 million in cash proceeds.
U.Today billed Monday as a big day for XRP.
XRPL permissions and XRP price
On the protocol side, the XRP Ledger activated PermissionDelegationV1_1 on Oct. 8. It lets businesses delegate specific account permissions to third-party apps without exposing their master keys, and firms can assign up to 10 roles to external applications.
Ripple also moved 200 million XRP between its own addresses before sending 20 million XRP to a new address. U.Today noted those transfers alone didn't establish a change in Ripple's market strategy.
XRP held around $1.39 to $1.40 on Oct. 9, while many other large-cap altcoins posted steeper losses. By Oct. 10 it had slipped from the $1.50 area to near $1.38, around its 200-day moving average. U.Today flagged $1.33 to $1.40 as the key range, with a move above $1.46 needed to show stronger short-term momentum.
Frequently asked questions
What is PermissionDelegationV1_1 on the XRP Ledger?
It's an XRP Ledger feature that lets businesses delegate specific account permissions to third-party applications without exposing their master keys. Firms can assign up to 10 roles to external applications. U.Today reported it was activated on Oct. 8.
When is Evernorth expected to start trading on Nasdaq?
Evernorth, a Ripple-backed company building an XRP-focused digital asset treasury, expects to begin trading on Nasdaq under the ticker XRPN on Monday, Oct. 12. That follows its completed merger with Armada Acquisition Corp. II, according to a regulatory filing reported by U.Today.
