$XRP NO PUMP DESPITE $648M XRP TREASURY LISTING ON NASDAQ
Evernorth Holdings has officially begun trading on Nasdaq under the ticker XRPN.
It’s a notable company because it holds around 473 million XRP, worth nearly $648 million.
But its debut wasn’t exactly impressive.
XRPN rose to $19.38 early in the session before reversing course, closing at $16.91, down 1.05%.
Meanwhile, XRP also fell around 3%.
The key point is that Evernorth’s Nasdaq listing doesn’t mean the market will automatically buy more XRP.
Most of its current XRP came from investors contributing XRP in exchange for shares in the company.
The story only becomes truly significant if Evernorth uses its new capital to buy more XRP.
The company’s CEO has also said its goal is to increase the amount of XRP per share over time.
If it continues accumulating, it could become a new source of demand for XRP.
For now, Mây isn’t expecting too much from the Nasdaq effect.
For XRP to rise sustainably, we still need to see actual money flowing into additional token purchases.
Follow Mây for updates on noteworthy XRP stories. #evernorthnasdaqdebutclosesdown1.05% #TinFed #TheoDõiFOMC #BitcoinOptionsVolatilityHitsFiveYearLow #FSBWarnsCrossBorderStablecoinRulesRemainUnderdeveloped
Evernorth Holdings has officially begun trading on Nasdaq under the ticker XRPN.
It’s a notable company because it holds around 473 million XRP, worth nearly $648 million.
But its debut wasn’t exactly impressive.
XRPN rose to $19.38 early in the session before reversing course, closing at $16.91, down 1.05%.
Meanwhile, XRP also fell around 3%.
The key point is that Evernorth’s Nasdaq listing doesn’t mean the market will automatically buy more XRP.
Most of its current XRP came from investors contributing XRP in exchange for shares in the company.
The story only becomes truly significant if Evernorth uses its new capital to buy more XRP.
The company’s CEO has also said its goal is to increase the amount of XRP per share over time.
If it continues accumulating, it could become a new source of demand for XRP.
For now, Mây isn’t expecting too much from the Nasdaq effect.
For XRP to rise sustainably, we still need to see actual money flowing into additional token purchases.
Follow Mây for updates on noteworthy XRP stories. #evernorthnasdaqdebutclosesdown1.05% #TinFed #TheoDõiFOMC #BitcoinOptionsVolatilityHitsFiveYearLow #FSBWarnsCrossBorderStablecoinRulesRemainUnderdeveloped