Evernorth Holdings Linked XRP Coins on Move, What’s Happening?

Ripple News: XRP coins linked to Evernorth Holdings, the largest XRP treasury, are on the move. The massive transfers ahead of the first XRP ETF launch under the 1933 Act this week sparked speculation in the crypto community, with XRP price slipping to $2.38.

XRP Treasury Evernorth Holdings’ Coins Movement Among Key Ripple News Today

On November 12, Whale Alert highlighted 143,701,579 XRP worth over $343 million transferred between two wallets. This comes amid massive XRP transfers in the last few days, including 200 million coins worth $501 million moved by Ripple.

On-chain analysis revealed 143 million XRP are linked to Ripple-backed XRP treasury Evernorth Holdings. In total, Evernorth (1) wallet has transferred 202.26 million XRP to a BitGo Initialization Activated wallet “rKhjV4.”

Today, the wallet Bitgo Initialization Activated wallet “rKhjV4” sent some of XRP holdings of Evernorth to another wallet “rGJBNG.” This follows 4,164,931 XRP received from Evernorth (1) wallet earlier today.

Meanwhile, Bitgo self-custody wallet, the same wallet that created Evernorth wallet, sent 1.2225 XRP to activate many new wallets, before it ran out of XRP. The reason behind the move remains unclear.

As CoinGape reported recently, Evernorth (1) transferred over 126 million XRP to Evernorth (2). The newly created wallet still holds 126,791,459 XRP. However, the primary wallet holdings dropped to 59,655,969 XRP worth $143 million.

XRP Price Falls Ahead of XRP ETF Launch

Canary XRP ETF becomes auto-effective via an 8-A filing with the US SEC and gains Nasdaq approval to list under the ticker symbol XRPC, as first reported by CoinGape.

The spot XRP ETF is expected to start trading on Thursday, following a pending CERT filing. The ETF will trade under the ticker symbol “XRPC” with a management fee of 0.50%.

XRP price fell 3% in the past 24 hours despite bullish Ripple news, currently trading at $2.38. The 24-hour low and high are $2.38 and $2.48, respectively.

Furthermore, trading volume has decreased by 40% over the last 24 hours. It indicates a decline in interest among traders due to a death-cross formation on the daily chart.

The derivatives market also showed selling in the last few hours, as per CoinGlass data. At the time of writing, the total XRP futures open interest dropped almost 1.30% to $3.89 in an hour.

The 24-hour XRP futures OI was down more than 4%. Also, XRP futures OI on CME and Binance fell by more than 6% and 9%, respectively.