Evernorth fell 1.05% on its first day of trading on Nasdaq. Why didn’t the XRP treasury narrative drive the stock price higher? My view: The market trades on expectations, but ultimately, actual action determines buying demand. Evernorth holds a large amount of XRP, but holding XRP does not necessarily mean continuing to buy more after listing. XRPN’s stock price is also affected by cash, liabilities, equity dilution, and valuation premiums, so it cannot simply be treated as a proxy for XRP. Going forward, three things matter most: whether the company continues to increase its XRP holdings, whether the net XRP value per share rises, and whether XRPN’s premium or discount relative to the net value of its XRP holdings widens. If there is only a narrative without new buying, the hype may fade. If the company continues accumulating XRP and increases net asset value per share, it will have a better chance of becoming a long-term catalyst. The listing is only the beginning. What is truly worth tracking is the company’s subsequent capital deployment. #XRP #Evernorth #XRPN

Standard Chartered Adds Ripple’s RLUSD to Banking Custody After $765M Quarterly Surge Standard Chartered has launched custody for Ripple’s RLUSD stablecoin, positioning the digital dollar to expand into institutional trading as collateral. On Oct. 12, the bank announced that eligible institutional clients can now hold RLUSD issued on the XRP Ledger (XRPL) through its Dubai International Financial Center branch, regulated by the Dubai Financial Services Authority. ⚠️ Personal market analysis only. NFA — manage risk and DYOR. Educational content, not investment advice or a recommendation to buy, sell, deposit, or withdraw any asset. No paid promotion or referral/affiliate links.