October 13th 2026, 5:17 AM
XRP Down 3% Despite Evernorth Public Debut, Market Loses Confidence
Key Summary
XRP underperformed the market after Evernorth's public debut, with a 3% decline over the last 24 hours. Despite the listing on Nasdaq, Evernorth's treasury is primarily composed of past XRP contributions, limiting potential buying pressure. The decline follows bearish crypto market trends, with Bitcoin and Ethereum also down. The overall crypto market cap has dipped 2.8%.
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Historical Background Context
The decline in chip production has led to increased liquidations for tokenized SanDisk bets, surpassing XRP in terms of losses. The SEC's proposal to facilitate tokenized NMS stock trading aims to promote innovation and access to capital for startups and small businesses.Evernorth's Public Debut
Despite the big public launch of Ripple-backed Evernorth, XRP underperformed the rest of the crypto market. Over the last 24 hours, XRP has declined by 3% to $1.37. The market cap of XRP is about $86.4 billion.Analysis
The decline follows bearish crypto market trends, with Bitcoin and Ethereum also down. However, XRP's drop is particularly bad in comparison with other top cryptos. Evernorth Holdings has been listed on the Nasdaq stock exchange and has begun trading on Nasdaq (ticker: XRPN) on Oct. 12.Impact
The majority of Evernorth's treasury consists of past XRP contributions, limiting potential buying pressure. The first session was not very successful for the company, with the XRPN stock beginning at $19.38 but closing at $16.91, a decline of 1.05%.#XRP#Crypto#Nasdaq#Evernorth