XRP Fell 8% in the Week It Got a Nasdaq Listing, a Dubai Bank Deal and an ETF Inflow. Why Did None of It Count?
A Nasdaq debut, a major bank partnership, and fresh ETF inflows all landed for XRP in the same week, yet the token still lost ground. The reasons why reveal something counterintuitive about how crypto markets actually respond to good news.
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XRP (CRYPTO:XRP) fell 8% over the past week, despite three pieces of favorable news. Evernorth, a company that holds about 473 million XRP, debuted on Nasdaq. Additionally, Standard Chartered launched custody for Ripple’s stablecoin on the XRP Ledger in Dubai, and fresh XRP inflows were reported. So why did XRP still decline amidst all this good news?
As of October 13, 2026, XRP is trading at $1.36, having fluctuated between $1.31 and $1.41 in the last 24 hours. Over the past month, the cryptocurrency is up just 1.3% and remains more than 62% below its all-time high.
Traders Sold Into the Expected Nasdaq Listing
As a public company, Evernorth holds cryptocurrency as its primary asset. This means that investors in Evernorth indirectly gain exposure to XRP’s value. However, many traders anticipated its Nasdaq listing well before it happened.
This expectation likely led some speculators to sell their XRP once the listing occurred, following a classic market strategy known as “buy the rumor, sell the news.” This often creates a temporary price peak right before a widely anticipated event, as those who wanted to invest had already bought in. Thus, rather than generating new buying interest, the listing prompted holders to cash out.
Standard Chartered’s Deal Focuses on Ripple’s Stablecoin, Not XRP
Custody services involve banks safeguarding digital assets for their clients. Standard Chartered’s new service focuses on storing Ripple’s stablecoin, designed to maintain a steady value of $1, for use on the XRP Ledger, where XRP is the native coin.
However, this agreement centers on the stablecoin, not XRP itself, so it primarily boosts demand for Ripple’s dollar-pegged token. The deal doesn’t require clients to hold XRP, and it can take a custody service time to attract users. Therefore, evaluating its impact over just a week is premature.
XRP Funds Saw Initial Inflows, Then Stagnated
XRP funds registered an inflow of about $8.17 million on October 8, but there was no subsequent net flow the next day. Although the initial influx suggests genuine buying interest, the amount is relatively small compared to XRP’s typical trading volume.
Price movements depend on whether buyers or sellers are active. In this context, an $8 million inflow is minimal for XRP and may struggle to offset selling pressure.
It’s unclear whether the selling pressure originated from traders exiting positions after the listing or from a broader trend of money leaving the cryptocurrency market. The entire crypto market declined during the same week, suggesting XRP’s 8% drop may reflect broader market sentiment rather than any individual news.
Why Is XRP Down After a Week of Good News?
In summary, XRP’s drop can be attributed to the fact that the recent headlines didn’t motivate anyone to buy in large amounts. Traders sold off after the anticipated Nasdaq listing; the Standard Chartered deal concerns a different token, and the inflow was minor and short-lived. Although these developments may yield benefits over time, immediate results have been limited.
Analysts mentioned that they are watching for support around the $1.35 to $1.38 range, where buyers have been active before. If this support holds, XRP could rise toward $1.45 to $1.50. Conversely, a daily close below $1.32 could indicate continued selling pressure, while a move back above $1.45 accompanied by several days of rising fund inflows could signal increased market interest driven by positive news.
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Sam Daodu is a crypto analyst who's spent nearly a decade making blockchain understandable—no easy task when most whitepapers read like fever dreams. He writes for 24/7 Wall St., covering Bitcoin, altcoins, and crypto market analysis for investors. Before crypto, he was a tech writer (back when explaining "the cloud" was peak innovation). Since 2018, he's written for CoinTelegraph, Yahoo Finance, The Block, Cryptonews, Zypto, Rain, and more—basically anywhere people want crypto news without the headache. Sam runs MacLabs Marketing, a content agency for crypto brands tired of sounding like AI wrote their website. He also publishes free crypto education on his site for Web3 enthusiasts who think "gas fees" is a typo. When he's not writing or staring at charts, Sam's either: - Watching anime (currently convinced One Piece has better tokenomics than most altcoins) - At the gym sculpting himself into a Greek god - Listening to the music your mum warned you only bad boys listen to Connect: LinkedIn | Email | MacLabs Marketing
