Evernorth Completes SPAC Merger, Listing 473M XRP on Nasdaq
Evernorth's public listing with a significant XRP treasury could impact the token's market dynamics.
Evernorth's public listing with a significant XRP treasury could impact the token's market dynamics. XRP (XRP) is trading at $1.39. This is an original Token Times brief synthesising 3 outlets (Crypto.news, U.Today, ZyCrypto), with their figures cross-checked, plus live market data, as of Sun, 11 Oct 2026 09:45:01 UTC.
The public listing of Evernorth with 473 million XRP could increase institutional interest and liquidity for XRP, while also subjecting it to greater regulatory scrutiny.
- Evernorth completed SPAC merger and will list on Nasdaq on Oct 12.
- Company holds 473 million XRP and raised $300 million in cash.
- XRP price remains near $1.40 despite potential market impact.
Crypto.news, U.Today and ZyCrypto all report that Evernorth has completed its SPAC merger with Armada Acquisition Corp. II and will list on Nasdaq on October 12th, with approximately 473 million XRP and $300 million in cash proceeds. However, while Crypto.news and U.Today focus on the potential market impact of the XRP treasury, ZyCrypto emphasizes the broader institutional adoption of XRP following Paxos' support.
Evernorth, a healthcare services company, has completed its merger with Armada Acquisition Corp. II and is set to begin trading on the Nasdaq stock exchange on October 12th. The company holds approximately 473 million 
XRP as part of its treasury, which could significantly impact the token's market dynamics.
The merger has raised about $300 million in gross cash proceeds, according to Crypto.news and U.Today. This substantial capital injection, combined with the company's XRP holdings, could attract increased institutional interest and potentially influence XRP's price and liquidity.
Despite the positive developments, XRP's price has not shown a significant reaction, remaining near $1.40. This suggests that the market may be distinguishing between Evernorth's existing corporate holding and any potential new demand that could arise from the listing.
The listing comes at a time when XRP is gaining traction in the mainstream and institutional markets. Paxos Crypto Brokerage's recent support for XRP, as reported by ZyCrypto, further underscores this trend. However, the increased institutional exposure also raises the possibility of greater regulatory scrutiny.
In the broader market context, the total crypto market cap stands at $2.87 trillion, with 
Bitcoin showing a modest 24-hour gain of 0.30%. The Fear & Greed Index is at 61, indicating a 'Greed' sentiment. XRP itself is trading at $1.39, down 0.92% in the last 24 hours and 7.02% over the past week.
Since this brief published about 23 hours ago, XRP (XRP) has moved from $1.39 to $1.39 — +0.00%.
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 ≈ ₹144.98 (about $1.39), down 1.1% over 24 hours. The rupee itself trades about 7.7% 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 2 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 11, 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, Listing 473M XRP on Nasdaq — questions & answers
What is Evernorth's XRP holding?
Evernorth holds approximately 473 million XRP as part of its treasury.
When will Evernorth start trading on Nasdaq?
Evernorth is expected to begin trading on Nasdaq on October 12th.
How much cash did Evernorth raise in the merger?
Evernorth raised about $300 million in gross cash proceeds from the merger.
How much is 1 XRP worth in rupee today?
About ₹144.98 at the live peer-to-peer (P2P) USDT rate, which is what Indians typically trade at — equivalent to roughly $1.39. 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.
Which outlets reported this story?
This is an original Token Times brief that synthesises reporting from Crypto.news, U.Today, ZyCrypto, 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.