Nasdaq's XRP Treasury Crashed Nearly 50% In a Month

Ripple-backed Evernorth has lost nearly 47% since its October Nasdaq listing. Meanwhile, a new filing lists 73.7 million shares that holders could resell, raising fears of fresh selling pressure. The overhang could test investor confidence in one of the largest corporate bets on XRP. Evernorth Faces a 73.7 Million Share Overhang Evernorth, an XRP treasury company trading under the ticker XRPN, holds about 473 million XRP. Its strategy centers on growing XRP holdings per share. The company debuted on October 12 and hit a high of $19.39. However, the stock closed at a record low of $10.05 on November 5. As a result, the decline has erased much of the early enthusiasm surrounding the listing.

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