Weekly Crypto Digest: XRP Nasdaq Debut & Bitcoin Lows

What an action-packed week it was in the crypto world! Between October 4 and October 10, 2026, the market saw significant price swings, important institutional updates, and major tech developments. Let's break down everything you need to know in simple terms.

RippleXRP+1.44%-Backed Evernorth Prepares for Nasdaq Listing

A huge milestone is taking shape for institutional digital asset adoption. Evernorth, a Ripple-backed firm focused on building an XRP digital asset treasury, completed its merger with Armada Acquisition Corp. II.

The company expects to begin trading on Nasdaq under the ticker XRPN on Monday, October 12, 2026.

The deal connects several entities, including Evernorth, Pathfinder Digital Assets, Ripple, Armada, and two merger subsidiaries. Under this deal structure, both Pathfinder and the former Armada entity are now wholly owned subsidiaries of Evernorth.

This transaction comes packed with power. It includes approximately 473 million XRP alongside $300 million in cash proceeds. These deep resources give Evernorth plenty of fuel to execute its digital asset treasury strategy while offering stock market investors exposure to XRP.

Bitcoin Experiences an October Price Dip

Bitcoin experienced noticeable downside pressure this week. After trading near $87,000, BTCBTC+0.97% slid to an October low of $80,420 on October 9 before rebounding toward $82,949 by October 10.

Several key factors drove this temporary dip:

• Government Wallet Movement: U.S. authorities moved 17,733 BTC (worth about $1.484 billion) to Coinbase Prime.
• Derivatives Liquidations: Traders facing forced position closures saw $859.17 million in total liquidations on Oct 9. Long positions took 86% of the hit (around $740 million).
• ETF Outflows: U.S. spot Bitcoin ETFs recorded $244.13 million in net outflows on Thursday, Oct 8.

Looking ahead, the $80,000 price level serves as a critical support region, while $87,000 remains key resistance. If institutional buying rebounds through ETF inflows, BTC could retest higher resistance levels. However, if macroeconomic pressure persists, Bitcoin might test support below $80,000.

Past performance of digital assets is not an indicator of future results. You can view live market prices anytime at bitkub.com/th/market/BTC.

XRP Ledger Activates New Security Feature

Developers on the XRP Ledger (XRPL) launched a major utility upgrade called Permission Delegation V1_1 on October 8.

Think of this feature like handing a valet key to a hotel attendant instead of giving them your master house keys. It lets businesses assign up to 10 specific account roles to external applications without exposing their sensitive master keys.

During the week, Ripple also transferred 200 million XRP between internal wallets before sending 20 million XRP to a new address. While these moves caught trader attention, internal transfers are routine and do not indicate a strategy change.

Altcoin Overview: XRP, SHIB, and HYPE

The broader altcoin market saw mixed activity as major tokens navigated general market volatility.

XRP: XRP held steady around $1.39 to $1.40 during the peak market sell-off on Oct 9. By Oct 10, XRP adjusted to around $1.38, near its 200-day moving average. The $1.33 to $1.40 range remains an important zone. If positive market momentum pushes prices above $1.46, short-term trends could turn bullish; conversely, weakness could lead to testing $1.33.

Past performance of digital assets does not guarantee future returns. Check real-time pricing at bitkub.com/th/market/XRP.

Shiba InuSHIB+1.54%: SHIB faced pressure after dropping below its 200-day moving average. It rebounded from $0.00000510 to $0.00000536 on Oct 10, with its 100-day moving average near $0.00000529 acting as immediate support.

HyperliquidHYPE+1.95%: HYPE pulled back from its September high near $98. However, sustained network activity keeps HYPE among the stronger large-cap performers.

European Regulators Enforce MiCA Rules

In regulatory developments, the European Securities and Markets Authority (ESMA) set a firm cutoff date for stablecoins operating inside the EU.

Crypto service providers have until January 8, 2027 to close out positions in stablecoins that fail to meet Markets in Crypto-Assets (MiCA) rules. This rule requires European crypto platforms to carefully curate their asset listings.

Weekly Market Summary Snapshot

• Bitcoin (BTC): $82,949 on Oct 10
• XRP: $1.38 on Oct 10
• Shiba Inu (SHIB): $0.00000536 on Oct 10
• Oct 9 Market Liquidations: $859.17 million total
• U.S. Spot BTC ETF Outflows: -$244.13 million on Oct 8
• Key Upcoming Event: October 12, 2026 – Evernorth Nasdaq listing (Ticker: XRPN)