XRP treasury stock surges 273% in a week, while the coin barely moves
Shareholders have approved the SPAC merger for XRP treasury company Evernorth. It’s scheduled to close on Wednesday, with the company set to list on Nasdaq as XRPN on Thursday, holding around 473 million XRP worth approximately $700 million.
Here’s the contrast: the shell stock rose about 273% last week, while XRP was basically flat over the same period. Binance spot price: 1.498, down 1.9% in 24 hours. Since 80% of the trust’s funds will be returned to shareholders who redeem, the small float is what’s driving the stock’s sharp rise—it doesn’t mean buyers are snapping up XRP on the spot market.
I’m still bullish, for two reasons: first, $700 million worth of coins will be locked up in a listed company and won’t be sold in the near term; second, XRP has been trading between 1.45 and 1.56 for ten days, and today it held above the lower end at 1.486.
I’d take a small position if it holds at 1.48–1.49 $XRP , take profit at 1.53 / 1.55, and admit I’m wrong if it breaks below 1.465.
Just my personal view; manage your own position.
#XRP财库公司Evernorth完成SPAC合并 $XRP
Shareholders have approved the SPAC merger for XRP treasury company Evernorth. It’s scheduled to close on Wednesday, with the company set to list on Nasdaq as XRPN on Thursday, holding around 473 million XRP worth approximately $700 million.
Here’s the contrast: the shell stock rose about 273% last week, while XRP was basically flat over the same period. Binance spot price: 1.498, down 1.9% in 24 hours. Since 80% of the trust’s funds will be returned to shareholders who redeem, the small float is what’s driving the stock’s sharp rise—it doesn’t mean buyers are snapping up XRP on the spot market.
I’m still bullish, for two reasons: first, $700 million worth of coins will be locked up in a listed company and won’t be sold in the near term; second, XRP has been trading between 1.45 and 1.56 for ten days, and today it held above the lower end at 1.486.
I’d take a small position if it holds at 1.48–1.49 $XRP , take profit at 1.53 / 1.55, and admit I’m wrong if it breaks below 1.465.
Just my personal view; manage your own position.
#XRP财库公司Evernorth完成SPAC合并 $XRP
