Evernorth Partners With Ripple, Kraken, Coinbase and BitGo to Deploy 473M XRP Treasury

Major cryptocurrencies fell after U.S. inflation data exceeded expectations, with Bitcoin down 1.8% to $82,000 and Ethereum down 2.8% to $2,440. The total crypto market cap slipped 2.18% to $2.74 trillion. Higher inflation may complicate the Fed's efforts to control prices, potentially impacting risk assets like Bitcoin.

Bitcoin fell 1.5% to $82,142 on Wednesday after U.S. inflation data exceeded expectations, with CPI rising 0.6% monthly and 3.7% annually. This increased the likelihood of a Fed rate hike to 44-49% for the October meeting. Higher yields and a stronger dollar negatively impacted crypto and equities, with $281 million in crypto derivatives liquidated. Bitcoin's technical indicators suggest a mixed outlook, with key support and resistance levels identified.

US CPI rose 0.6% month-over-month, exceeding expectations and raising inflation concerns. XRP and Bitcoin prices fell sharply, with XRP dropping 1.63% in 15 minutes. Higher energy costs drove the CPI increase, impacting market sentiment and Fed rate expectations.

Bitcoin (BTC), Ethereum (ETH), and XRP each fell 1% after a higher-than-expected September CPI inflation print of 3.7%. BTC dropped from $83,800 to $82,800, XRP from $1.38 to $1.34, and ETH to $2,430. Matt Hougan of Bitwise noted the reaction was less severe than expected, while U.S. bond yields spiked to 5.15%.

U.S. CPI data showed higher-than-expected inflation, leading to a 0.48% drop in cryptocurrency market cap. Bitcoin (BTC) fell 0.45% to $82,872.52, while Ethereum (ETH) dropped 1.3% to $2,475.00. Fed rate hike expectations increased, with a 45.9% chance of a 0.25% hike in October and 49% for a 0.50% hike in December.

Ripple partnered with Privy to integrate XRPL wallets into apps, enabling XRP and RLUSD payments without private key management. XRPL processed 13M agent payments, 25% of total transactions. On-chain activity hit a 2-year high, with stablecoin supply rising 306% to $1.22B. Daily settlements reached 600K-700K. Ripple aims to boost AI-driven payments adoption.