XRP treasury company Evernorth jumped 5% right after the Nasdaq opened last night. Looks like the crypto-equity connection has now reached the corporate treasury level.
Let’s take a look at the broader market. BTC is trading around 82,700, down less than half a percent, with $11.27 billion in trading volume. ETH, on the other hand, is up nearly 1% at 2,530. BNB is at 747 and SOL at 109; both are down. The Fear & Greed Index is at 69, still in Greed territory. Just 22% of the market is up, and only 1.5% of coins have gained more than 10% in the past 24 hours.
What’s that saying? The market isn’t falling, but it’s not making you any money either. The fact that ETH is holding up better than BTC this time is the only thing I find interesting today. If it were me, I’d go long on ETH with a small position around 2,520, initially targeting 2,620. I wouldn’t chase BTC.
I don’t know whether Evernorth’s 5% gain will continue, but the market taking notice of the XRP treasury concept is worth keeping an eye on.
Position size matters more than entry price.
Let’s take a look at the broader market. BTC is trading around 82,700, down less than half a percent, with $11.27 billion in trading volume. ETH, on the other hand, is up nearly 1% at 2,530. BNB is at 747 and SOL at 109; both are down. The Fear & Greed Index is at 69, still in Greed territory. Just 22% of the market is up, and only 1.5% of coins have gained more than 10% in the past 24 hours.
What’s that saying? The market isn’t falling, but it’s not making you any money either. The fact that ETH is holding up better than BTC this time is the only thing I find interesting today. If it were me, I’d go long on ETH with a small position around 2,520, initially targeting 2,620. I wouldn’t chase BTC.
I don’t know whether Evernorth’s 5% gain will continue, but the market taking notice of the XRP treasury concept is worth keeping an eye on.
Position size matters more than entry price.