XRP accumulation plan
XRP is trading at $2.50 following Ripple-backed Evernorth’s announcement of plans to raise over $1 billion for the accumulation of XRP. This initiative is helping to alleviate concerns regarding the upcoming escrow unlock of 1 billion tokens scheduled for November 1st. Investors had been wary of the potential impact of the token unlock on XRP’s price, which historically leads to downward pressure. However, Evernorth’s significant financial commitment aims to bolster market confidence and support the digital asset’s value. The market is currently reacting positively to this accumulation plan, signaling optimism among investors despite the looming unlock event.
