Despite the listing of Ripple-backed Evernorth on the Nasdaq under the ticker XRPN, XRP underperformed by declining 3% over 24 hours to $1.37, with a market cap of approximately $86.4 billion. This drop is significantly worse than the broader crypto market, which fell 2.8%, as well as Bitcoin (-1%) and Ethereum (-0.5%). Evernorth debuted on October 12 with a treasury of approximately 473 million XRP, worth roughly $648 million at current prices, but without creating additional buying pressure since these tokens came from past contributions and not from new market purchases.
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