Evernorth Holdings (XRPN), an XRP treasury company backed by Ripple, has seen its shares fall by more than 40% since their market debut. On November 10, the stock dropped 23.54% to $7.96, after closing the previous session at $10.41, while trading volume climbed to about 1.39 million shares. Evernorth registered 73,688,162 Class A shares with the Securities and Exchange Commission for potential resale by existing shareholders. Arrington XRP Capital Fund, Ripple Labs, entities linked to SBI Holdings and the Larsen Lam Children’s Remainder Trust are among the major holders involved, although registration does not necessarily mean the shares will be sold immediately because of lock-up agreements.
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