473M XRP at Work: Evernorth’s Game Plan Takes Shape With Ripple, Coinbase, Kraken, and BitGo

XRP price fell 4.7% to $1.3083 due to higher-than-expected U.S. inflation data, raising Fed rate hike concerns. Market cap is $82.13 billion. Evernorth Holdings (XRPN) dropped 7.4% to $15.26, with volume at 1.69 million shares. XRP ETFs saw minor inflows, but prices declined. Analysts predict potential further declines or rebounds based on technical indicators and Fed policy.

Ripple (XRP) and Stellar (XLM) prices fall as US inflation data raises Fed rate hike expectations. XRP trades at $1.318, below key EMAs, while XLM is at $0.180, also below support levels. Bearish derivatives data and technical indicators suggest further downside risks.

Bitcoin fell to $80,000, and Ether dropped 5.48% as cryptocurrencies declined amid higher-than-expected US inflation and AI spending concerns. Other major cryptos like Solana and XRP also fell. The US CPI rose 3.7%, fueling fears of further Fed rate hikes. South Korean stocks, including Samsung Electronics and SK Hynix, also declined sharply.

Bitcoin fell to around US$81,600, down 1.8%, as US inflation data revived Fed rate hike fears. September inflation rose to 3.7% annually, above expectations. Bitcoin's decline brings it close to the US$80,000 support level. Higher US Treasury yields and crypto liquidations contributed to the sell-off. Institutional demand via ETFs has been mixed, with recent inflows not offsetting broader market pressure.

Chinese authorities seek to forfeit $5B in crypto, including 61,896 BTC, linked to an investment fraud case involving Chen Zhimin and Tianjin Lantian Gerui Electronic Technology. The case involves over 102,000 victims and 40.38B yuan in losses. The seized assets also include other cryptocurrencies, cash, and jewellery. The final destination of the crypto and compensation details remain uncertain.

Chinese authorities seek to confiscate $5B in BTC and other cryptocurrencies linked to a $6B fraud case involving Tianjin Lantian Gerui Electronic Technology. The court accepted the application, and British courts are involved in determining asset ownership.