XRP Faces a Major October 12 Catalyst as Evernorth Debuts on Nasdaq

XRP Ledger maintainers disclosed and fixed a critical bug that could have allowed counterfeit XRP creation since 2015. The flaw was reported via a bug bounty in September and patched in version 3.4.1. No evidence of exploitation was found. The fix bypassed the usual amendment process due to its severity. XRP's price declined 1.6% in 24 hours and 9.4% over a week.

Standard Chartered launched custody services for Ripple's RLUSD stablecoin on the XRP Ledger, expanding its partnership with Ripple and LMAX Group. Institutions can use RLUSD as collateral for trading. RLUSD is live in Dubai, regulated by the Dubai Financial Services Authority. Ripple's SVP Jack McDonald noted the partnership enables institutional use of regulated stablecoins. Separately, XRP Ledger activity surged, with over 600,000 daily payments and 13.94 million transactions.

Researchers and RippleX patched a 64-bit overflow in the XRP Ledger on Sept 25. XRPUSD fell 8.2% in a week, with 1.58B XRP exchanged in 30 days. The total supply remains 100B. XRPUSD needs a daily close above $1.40 to change its near-term trend. Evernorth holds 473M XRP and reported $300M in gross cash proceeds tied to XRPUSD.

XRP Ledger developers patched a critical vulnerability that could have allowed the creation of 18.45 trillion XRP, bypassing its fixed-supply rules. The bug, present since 2015, was fixed on September 25 with no evidence of exploitation. Over 80% of validators upgraded immediately, bypassing the usual amendment waiting period. Researchers received a $250,000 bounty for discovering the flaw, which was found through AI security agents.

The XRP Ledger fixed a critical bug that could have created 18 trillion unauthorized XRP, exceeding the intended 100 billion supply. The issue, discovered by researchers, was patched in an emergency update. Over 80% of validators applied the update, mitigating risks. The XRPL Foundation and RippleX confirmed the fix, with no evidence of exploitation.

XRP is trading at $1.41, down 6% this week, ahead of Evernorth's Nasdaq debut under ticker XRPN. Evernorth holds 473 million XRP and $300 million in cash, aiming to invest in the XRP ecosystem. The debut could influence XRP's price, currently near support levels. Technical analysis suggests key levels at $1.30, $1.42, and $1.50.