Could Evernorth become the Strategy of the XRP treasury market?
Ripple recommends withdrawing the XRP Ledger's XLS-38 bridge amendment, citing Axelar adoption, weak developer demand and maintenance costs.
The company's public-market strategy centers on holding and actively managing XRP as a corporate treasury asset.
XRP bounced back above the $1.40 threshold following a week characterized by robust institutional participation and heightened ETF interest. The digital asset gained approximately 20% across a seven-day period before experiencing profit-taking near the $1.70 peak.
Bitcoin slipped below $79,000 and XRP led crypto losses as traders repriced Fed hike odds. Here is what the selloff means for BTC, altcoins, and sentiment.
Net taker volume dropped amidst the return of the whales.
XRP is trading near $1.43 after a sharp derivatives-driven pullback erased much of its recent rally, even as spot ETF demand for the token continues to strengthen. ETF Inflows Hit Seven-Month High XRP spot ETFs recorded $28.14 million in net inflows on August 26, marking their strongest single-day haul in more than seven months.
Evernorth's S-4 is effective, clearing Armada shareholders to vote Sept. 30 on its proposed XRP treasury merger and Nasdaq listing.
The SEC cleared the paperwork for Evernorth's merger with a shell company, setting up a Sept. 30 vote and a listing under the ticker XRPN.
The S-4 registration statement is for Evernorth's merger with SPAC firm Armada, through which it seeks a Nasdaq listing.
Evernorth's Nasdaq listing could revolutionize institutional access to XRP, enhancing liquidity and integrating crypto into traditional finance. Evernorth clears SEC hurdle on path to become largest public XRP treasury vehicle.
XRP's derivatives market is showing its strongest net selling pressure of 2026, with Binance recording roughly $96 million in sell-side dominance. The surge follows a sharp XRP rally of about 70%, increasing speculative activity among derivatives traders. Despite the bearish signal, XRP remains above $1.40 while Binance Open Interest has climbed 14.