Popular lawyer Bill Morgan has revealed another company that is holding a significant amount of XRP on its balance 0 follows the emergence of Evernorth, another treasury company that has accumulated over $1 billion worth of the 1 XRP Treasury Company Emerges With Significant Holdings In an X post , Morgan drew attention to an SEC filing from Virtu Financial that showed it holds XRP on its balance 2 company, which boasts a market cap of just over $5 billion, holds 22 million XRP worth just over $55 million at the current 3 lawyer also noted that the company appears to be financially strong, which is a positive for the 4 Reading: Are The XRP Tokens In Escrow At Risk Of Being Sold?
Ripple CTO Shares Insights The treasury company is said to be a global financial services firm specializing in market-making and execution services. Furthermore, the company provides liquidity across global markets in asset classes including equities, ETFs, fixed income, commodities, and 5 on data from Crypto Treasury Tracker , Very ranks among the top 10 largest XRP treasury companies, just behind Wellgistics 6 is worth mentioning that Virtu has underperformed this year despite its 7 data shows that the company’s stock is down over 2% year-to-date (YTD). However, the stock has risen by over 3% in the last five days. Meanwhile, this development follows the recent emergence of Ripple-backed Evernorth , which plans to build the largest 8 data shows that the treasury company currently holds 388.7 million XRP worth nearly $1 billion, making it the largest XRP 9 company had earlier announced plans to raise over $1 billion from investors such as Ripple, Kraken, Pantera Capital, and 10 comes ahead of the company’s debut on the 11 treasury company plans to list on the stock exchange through a business combination agreement with Armada 12 notably recently changed its ticker to XRPN as part of the business 13 Institutions Set To Accumulate The Altcoin More institutional investors are set to accumulate the token with the imminent launch of the Canary Capital XRP 14 asset manager filed an amendment to its fund to remove the delaying amendment, allowing it to launch on November 15 will be similar to how the firm launched its Hedera and Litecoin ETFs earlier this 16 Reading: The Deadline For The Ripple Bank Is Almost Here – Important Date draws Close However, while institutions look to accumulate the token, long-term holders are offloading their coins, which is negatively impacting its price.
On-chain analytics platform Glassnode revealed that these holders who accumulated before November 2024 have ramped up their spending by 580% from $38 million daily to $260 million 17 platform noted that this is a clear sign that seasoned traders are exiting and adding pressure to the price 18 the time of writing, the altcoin’s price is trading at around $2.51, up over 2% in the last 24 hours, according to data from CoinMarketCap.
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