Evernorth Completes SPAC Merger, Bringing 473M XRP to Nasdaq as XRPN
Evernorth's $300M SPAC merger with Armada Acquisition Corp. II has closed, paving the way for its Nasdaq debut as XRPN with a significant XRP treasury.
Evernorth's $300M SPAC merger with Armada Acquisition Corp. II has closed, paving the way for its Nasdaq debut as XRPN with a significant XRP treasury. XRP (XRP) is trading at $1.37, up 0.7% since this brief published. This is an original Token Times brief synthesising 5 outlets (Brave New Coin, Decrypt, CoinCodex, and others), with their figures cross-checked, plus live market data, as of Mon, 12 Oct 2026 20:45:01 UTC.
This development marks the first pure-play XRP digital asset treasury to list on Nasdaq, potentially influencing XRP demand and price dynamics. The merger also highlights the growing institutional interest in crypto treasuries as a strategic asset.
- Ripple-Backed Evernorth Secures Major Deal Ahead of Nasdaq Listing: Why Is XRP Price Still Down? ↗
- Evernorth XRP Treasury Merger Brings 473 Million XRP to Nasdaq as XRPN Debuts October 12 ↗
- Evernorth Debuts on Nasdaq With 473M XRP Can It Help Push XRP Higher? ↗
- XRP treasury Evernorth’s shares rise 5% at Nasdaq opening print ↗
- Ripple-Backed Evernorth Hits Nasdaq Holding 473 Million XRP Worth Far Less Than It Paid ↗
- Evernorth completed its $300M SPAC merger with Armada Acquisition Corp. II.
- The company holds 473 million XRP in its treasury post-merger.
- XRPN shares began trading on Nasdaq on October 12.
- XRP's price declined 3.08% in the past 24 hours despite the news.
Multiple outlets (Brave New Coin, CoinCodex, U.Today) confirm that Evernorth completed its SPAC merger with Armada Acquisition Corp. II, bringing 473 million XRP and $300 million in gross cash to its Nasdaq debut as XRPN. However, Decrypt reports that 80% of SPAC investors cashed out before the merger, and the value of Evernorth's XRP holdings has decreased by approximately 40% since the deal was initially announced. Cointelegraph emphasizes the positive market reaction, noting a 5% increase in Evernorth's share price, while U.Today highlights the continued decline in XRP's price.
- XRP Treasury Evernorth Completes SPAC Merger, Launches $473M XRP Holdings on Nasdaq
- Evernorth Completes SPAC Merger, Bringing 473M XRP to Nasdaq as XRPN — this brief
Evernorth, a company focused on digital asset treasuries, has completed its Special Purpose Acquisition Company (SPAC) merger with Armada Acquisition Corp. II. This merger brings 473 million 
XRP and $300 million in gross cash to Evernorth's balance sheet, setting the stage for its debut on the Nasdaq under the ticker symbol XRPN.
The merger was completed ahead of the scheduled Nasdaq listing, with XRPN shares beginning to trade on October 12. This development marks the first pure-play XRP digital asset treasury to be listed on a major U.S. stock exchange, potentially influencing the demand and price dynamics of XRP.
While multiple outlets (Brave New Coin, CoinCodex, U.Today) agree on the core details of the merger, Decrypt reports that 80% of SPAC investors cashed out before the merger closed. Additionally, Decrypt notes that the value of Evernorth's XRP holdings has decreased by approximately 40% since the deal was initially announced, reflecting the volatility of the crypto market.
Cointelegraph highlights a positive market reaction, with Evernorth's share price rising by 5% on the day of the Nasdaq debut. This suggests that some investors view the merger as a positive development for Evernorth and the broader crypto market.
Despite the news, XRP's price has declined by 3.08% in the past 24 hours, trading at $1.36. This decline may be attributed to broader market trends, as the overall crypto market cap remains flat at $2.87 trillion. The Fear & Greed Index currently stands at 69, indicating a state of 'Greed' among investors.
The successful completion of the SPAC merger and the listing of XRPN on Nasdaq could set a precedent for other crypto companies looking to go public. Investors and market observers will be watching to see how Evernorth's treasury strategy impacts XRP demand and whether other companies follow suit in adopting similar strategies.
Since this brief published about 28 hours ago, XRP (XRP) has moved from $1.36 to $1.37 — +0.74%.
The chart plots XRP's price: grey is the move before this brief published, the vertical dashed line marks the moment it published, the horizontal dashed line is the price then, and the coloured area is the move since — from Token Times's market data (daily resolution). It shows what happened after the news, not that the news caused it; many factors move prices. Not financial advice.
At today's peer-to-peer rate, 1 XRP ≈ ₹141.58 (about $1.37), down 2.8% over 24 hours. The rupee itself trades about 6.6% above the official rate on the P2P market, so a Indian buyer's effective cost differs from the headline dollar price.
Live market data
Current prices for the asset in this story — live, source-stamped, updated every 15 minutes.
1 key figure independently matched across 5 outlets reporting this story.
Token Times extracts the figures each outlet reports and flags the ones that agree. Numbers cited by only one outlet are attributed in the brief, not shown as corroborated.
Figures and sectors in this story, checked live against on-chain aggregators · October 12, 2026.
Token Times reads these figures directly from on-chain aggregators (DeFiLlama, mempool.space) at build time — independent of what any outlet reported. Sector totals aggregate every protocol DeFiLlama tracks in that category. Values are live and will change.
Evernorth Completes SPAC Merger, Bringing 473M XRP to Nasdaq — questions & answers
What is Evernorth's XRP treasury worth?
Evernorth's XRP treasury is worth approximately $643 million based on the current XRP price of $1.36.
When did XRPN shares begin trading?
XRPN shares began trading on the Nasdaq on October 12.
How much cash did Evernorth receive from the SPAC merger?
Evernorth received $300 million in gross cash from the SPAC merger.
How much is 1 XRP worth in rupee today?
About ₹141.58 at the live peer-to-peer (P2P) USDT rate, which is what Indians typically trade at — equivalent to roughly $1.37. The rupee price moves with both XRP's US-dollar price and the USDT/INR rate; use our XRP in rupee page for any amount.
Has XRP's price moved since this brief was published?
XRP is up 0.74% since this brief first published — trading at $1.37 now versus $1.36 at publication. Token Times re-checks this figure against CoinGecko and Binance every 15 minutes.
Which outlets reported this story?
This is an original Token Times brief that synthesises reporting from Brave New Coin, Decrypt, CoinCodex, U.Today, Cointelegraph, with the key figures cross-checked for agreement across them. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original Token Times brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.