Evernorth Debuts on Nasdaq Amidst SPAC Investor Exodus and XRP Depreciation
Evernorth's XRPN shares began trading on Nasdaq following a SPAC merger, but most investors cashed out and its XRP holdings have significantly depreciated.
Evernorth's XRPN shares began trading on Nasdaq following a SPAC merger, but most investors cashed out and its XRP holdings have significantly depreciated. XRP (XRP) is trading at $1.32, down 0.8% since this brief published. This is an original Token Times brief based on reporting by Decrypt, with live market data added, as of Wed, 14 Oct 2026 20:00:01 UTC.
This development highlights the challenges faced by crypto-backed companies in navigating market volatility and investor sentiment, with implications for future institutional adoption of digital assets.
- Evernorth's XRPN shares started trading on Nasdaq after SPAC merger completion.
- 80% of SPAC investors redeemed their shares before trading began.
- Evernorth's XRP holdings are now worth ~40% less than at the time of the merger agreement.
- The company plans to generate returns from XRP through partnerships with major crypto firms.
- Evernorth Debuts on Nasdaq Amidst SPAC Investor Exodus and XRP Depreciation — this brief
- XRP's Wall Street Debut: Evernorth's XRPN Trades 1.29M Shares on Nasdaq Launch
Evernorth, a company backed by Ripple, has seen its XRPN shares begin trading on the Nasdaq stock exchange following the closure of its SPAC merger. However, the debut has been marked by a significant exodus of SPAC investors, with 80% of them choosing to cash out before the shares started trading.
The company's 
XRP holdings, which were a key component of its valuation during the merger agreement, have also faced challenges. The value of these holdings has depreciated by approximately 40% since the agreement was signed, reflecting the broader market downturn in the crypto space.
Multiple outlets, including Decrypt and CoinCodex, corroborate the 80% investor redemption figure and the 40% depreciation of Evernorth's XRP holdings. However, CoinCodex adds that Evernorth is planning to generate returns from its XRP holdings through partnerships with four major crypto firms, with institutional deployments expected in Q4 2026.
The broader market context shows a decline in the total crypto market cap to $2.81 trillion, with 
Bitcoin down 1.84% in the last 24 hours. The overall market sentiment, as indicated by the Fear & Greed index, remains in 'Greed' territory at 62, suggesting a cautious but not yet bearish outlook.
XRP itself has experienced a 2.65% drop in the past 24 hours and a 7% decline over the last week, with its market cap now standing at $83.75 billion. This downward trend in XRP's price further compounds the challenges faced by Evernorth in maintaining the value of its holdings.
Since this brief published about 2 days ago, XRP (XRP) has moved from $1.33 to $1.32 — -0.75%.
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 ≈ ₹137.93 (about $1.32), down 3.5% over 24 hours. The rupee itself trades about 9.6% 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.
Figures and sectors in this story, checked live against on-chain aggregators · October 14, 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 Debuts on Nasdaq Amidst SPAC Investor Exodus and X — questions & answers
What happened to Evernorth's SPAC investors?
80% of SPAC investors redeemed their shares before Evernorth's XRPN shares began trading on Nasdaq.
How much has Evernorth's XRP depreciated?
Evernorth's XRP holdings are worth about 40% less than at the time of the merger agreement.
What are Evernorth's plans for its XRP holdings?
Evernorth plans to generate returns from its XRP through partnerships with major crypto firms, with institutional deployments expected in Q4 2026.
How much is 1 XRP worth in rupee today?
About ₹137.93 at the live peer-to-peer (P2P) USDT rate, which is what Indians typically trade at — equivalent to roughly $1.32. 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 down 0.75% since this brief first published — trading at $1.32 now versus $1.33 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 Decrypt. 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.