Evernorth is scheduled to debut on the Nasdaq exchange in seven days holding 473 million XRP, according to a report by BeInCrypto. Shareholders approved the merger on September 30, yet those coins currently trade at a 37% discount compared to the valuation agreed upon when the initial contract was signed.
Evernorth holds XRP through Armada Acquisition merger
Evernorth operates as a treasury company, a publicly traded entity whose primary business centers on holding a single cryptocurrency token. The transaction proceeds through a merger with Armada Acquisition Corp. II, a Nasdaq blank-check shell company designed to bring private firms public. The agreement was finalized in October 2025. Regulatory filings at the time valued Ripple’s contribution of 126.8 million XRP at approximately $2.37 per coin. Today, XRP trades at $1.49 according to market tracking data cited by BeInCrypto.
At the valuation recorded during the October 2025 signing, 473 million XRP equaled roughly $1.1 billion. At current market prices, that same treasury sits at approximately $705 million. The vast majority of this reserve was never purchased on the open market. Ripple, acting as the sponsor of the agreement, along with an affiliated party transferred roughly 388 million XRP in exchange for stock shares, according to company prospectuses.
Evernorth plans to buy more XRP for yield
The merger injects roughly $300 million in cash before expenses, as detailed in company communications. Portions of these funds are earmarked for additional XRP acquisitions. Evernorth intends to use its coins. The company states that it plans to generate yield and engage in capital market operations to increase the amount of XRP held per share.
“The public listing offers investors a regulated, transparent way to gain XRP exposure and participate in the growth of the blockchain economy,” Asheesh Birla, founder and CEO of Evernorth, stated in the corporate announcement.
Nasdaq listing awaits formal approval for ticker XRPN
BeInCrypto reported in August that the firm stood just one final vote away from entering the Nasdaq. That vote is now complete. The final closing date of October 7 remains subject to remaining closing conditions, and the Nasdaq listing under the ticker symbol XRPN still requires formal approval. The 473 million coins held by the firm account for approximately 0.75% of the total circulating supply of XRP, which stands at 63.1 billion coins. On October 8, the equity market determines the valuation of this investment.
Frequently Asked Questions About The Evernorth Nasdaq Debut
How many XRP tokens does Evernorth hold for its treasury?
Evernorth holds 473 million XRP tokens, which account for about 0.75% of the total circulating supply of 63.1 billion coins. Most of this reserve came from Ripple and an affiliated party transferring tokens in exchange for shares.
What is the ticker symbol for Evernorth on the Nasdaq?
The company plans to trade under the ticker symbol XRPN, pending final Nasdaq approval following its merger with Armada Acquisition Corp. II.
What was the valuation of XRP when the agreement was signed in October 2025?
Regulatory filings from the October 2025 signing valued Ripple’s contribution of 126.8 million XRP at approximately $2.37 per coin, making the total treasury worth roughly $1.1 billion at the time.
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