The post highlights that Evernorth owns a very large
$XRP treasury and has prominent backers, but this does not automatically create new buying demand for
#XRP’ . Much of the XRP in its treasury may have been contributed by investors who already owned XRP, rather than purchased from the open market.
It also explains why XRPN shares may move sharply: around 80% of SPAC shareholders redeemed their shares before the merger, leaving fewer shares available for trading. A smaller public float can amplify price swings in either direction.
The key takeaway is that the Nasdaq listing by itself should not be treated as proof of stronger
#XRPUSDT🚨 demand or a positive signal for XRP’s price. The more relevant factor would be whether Evernorth later uses fresh capital to acquire additional XRP in the market.
$BNB $BTC #like_comment_follow