Evernorth's XRP treasury merger has won shareholder approval, moving investors closer to stock market exposure to the cryptocurrency. The transaction combines cash financing and token contributions ahead of a planned Nasdaq debut under the ticker XRPN.
Evernorth expects to begin trading on Nasdaq under the ticker XRPN after its SPAC merger closes, with an XRP treasury worth roughly $710 million at current prices.
XRP is approaching a technical level that analyst Ali Charts identifies as crucial for its next move. A confirmed hourly close above $1.54 could open a path toward $1.70, representing roughly a 10% gain. The setup comes after XRP recently moved above $1.38 and reached about $1.
Morpho's October 1 snapshot shows live FXRP collateral use, but concentrated debt leaves the broader XRP demand signal unresolved.
There is now overwhelming bearishness among XRP traders despite the fact that the token recently experienced a substantial rally.
Shareholders approved Evernorth's merger with Armada Acquisition Corp. II, clearing the way for the Ripple-backed firm to begin trading Oct. 8 with a stash of roughly 473 million XRP.
Evernorth shareholders approved the SPAC deal, putting a 473M XRP treasury on track for an Oct. 8 Nasdaq debut under XRPN.
Of the $225 million Evernorth lists as private placement cash, $214 million was spent in late 2025 on XRP bought at an average of $2.54.
San Francisco blockchain firm Ripple might have just completed its regular escrow wallet redistribution for the month of October, as new XRP moves catch market attention.
Bitcoin ETF Flows: Bitcoin funds recorded $148.7 million in net outflows, ending a nine-day inflow streak worth approximately $3.1 billion. Fidelity's FBTC led withdrawals, followed by Bitwise's BITB and BlackRock's IBIT.
XRP price has slipped below $1.50 to trade near $1.48 as Evernorth's proposed 473 million XRP treasury deal has cleared a shareholder vote, with the token holding just above its daily 20-day moving average.
The cryptocurrency market opens the fourth quarter with a local retreat by the bulls. An attempt to establish a new trend above $85,500 on the back of softer morning PCE inflation data (3.4%), which came in below expectations, resulted in a false breakout.