The selloff triggered $47 million in liquidations across XRP derivatives contracts, with nearly $44 million representing long positions.
XRP News
Evernorth, an XRP treasury company backed by Ripple executives acting as strategic advisors, is now recording an unrealized loss of $446 million on its holdings. The company purchased 388,710,631 XRP for $947 million in late October and has not acquired additional tokens since this deployment.
The company’s holdings are currently valued at approximately $501 million based on recent prices. Evernorth launched in October with the intention of raising over $1 billion for XRP purchases, positioning itself as a dedicated treasury vehicle for the asset. The company did not respond to requests for comment regarding current market conditions.
Seven US-traded spot XRP exchange-traded funds recorded volume of $5.9 million and net inflows of $6.9 million on Wednesday. Ripple Labs CEO Brad Garlinghouse recently discussed efforts to advance the market structure bill in Congress, but has not publicly addressed the downward price trend.
The Crypto Fear & Greed Index briefly entered greed territory in January when it peaked at 62, but has steadily declined since then. Market participants reduced their risk exposure as crypto assets extended losses over several trading sessions and volatility remained high.
This article contains links to third party websites or other content for informational purposes only (“Third Party Sites”). Third Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the contents of any Third Party Site, including without limitation any link contained in a Third Party Site, or any changes or updates to a Third Party Site. CoinMarketCap is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by CoinMarketCap of the site or any association with its operators. This article is intended to be used and should be used for informational purposes only. It is important to do your own research and analysis before making any important decisions related to any of the products or services described. This article does not constitute and should not be construed as financial advice. The views and opinions expressed in this article are those of the author (company) and do not necessarily reflect those of CoinMarketCap.
