XRP on Wall Street Turns Ugly: Evernorth’s XRPN Crashes 83% in a Month
AI summary
Evernorth's XRPN, a Wall Street vehicle tied to XRP, has crashed 83% in roughly a month since its launch and now trades below $9. The product has also underperformed XRP itself, undermining the thesis that wrapped or institutional XRP exposure would attract steady demand. Traders should watch whether the collapse dents appetite for similar XRP-linked vehicles and weighs on XRP sentiment.
