Evernorth Holdings debuted on Nasdaq under the XRPN ticker on October 12 with approximately 473 million XRP in its treasury and 300 million dollars in gross cash proceeds. Standard Chartered launched institutional custody for Ripple’s stablecoin RLUSD through its DIFC branch in Dubai and is working on an arrangement to eventually use RLUSD as collateral for selected institutional trading products. Ripple also introduced 24/7 perpetual swaps on real-world assets for institutional clients, while Cross River Bank announced the integration of RLUSD and the XRP Ledger into its banking infrastructure. Despite these major institutional developments, XRP struggled to gain ground, being rejected at $1.40 before dropping to $1.30 and then to a monthly low of $1.27 during the flash crash on October 19.
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