Evernorth's XRP-Backed Nasdaq Listing Follows SPAC Merger Amidst Investor Exodus
Evernorth, backed by Ripple, began trading on Nasdaq after a SPAC merger, but most investors cashed out and its XRP holdings have depreciated significantly.
Evernorth, backed by Ripple, began trading on Nasdaq after a SPAC merger, but most investors cashed out and its XRP holdings have depreciated significantly. XRP (XRP) is trading at $1.37. This is an original Token Times brief based on reporting by Decrypt, with live market data added, as of Tue, 13 Oct 2026 20:45:01 UTC.
This development highlights the challenges faced by crypto-backed companies in navigating traditional financial markets, especially amidst regulatory scrutiny and market volatility. The substantial XRP holdings by major stakeholders also underscore Ripple's continued influence on the asset's market dynamics.
- Evernorth's XRPN shares debuted on Nasdaq after closing its SPAC merger.
- 80% of SPAC investors redeemed their shares before the listing.
- Evernorth's XRP holdings are now worth about 40% less than at signing.
- Major stakeholders include Chris Larsen, Ripple, and SBI Holdings.
- Evernorth's XRP-Backed Nasdaq Listing Follows SPAC Merger Amidst Investor Exodus — this brief
- Evernorth's XRPN Stock Debuts on Nasdaq with Volatile Trading
Evernorth, a company with significant ties to Ripple, has begun trading on the Nasdaq after completing its merger with a special purpose acquisition company (SPAC). This move marks a notable development in the intersection of traditional finance and the cryptocurrency market.
However, the debut has been met with a substantial investor exodus, as 80% of SPAC investors opted to redeem their shares before the listing, according to multiple outlets. This indicates a lack of confidence or interest in the company's long-term prospects among early investors.
The financial position of Evernorth is further complicated by the fact that its 
XRP holdings, a key component of its assets, are now worth approximately 40% less than at the time of the deal's signing. This depreciation reflects the broader market trends for XRP, which has seen significant volatility in recent months.
U.Today's report adds that the ownership structure of Evernorth includes major stakeholders such as Chris Larsen, Ripple, and SBI Holdings, highlighting the continued influence of these entities on the company's operations and assets.
In the current market context, the total cryptocurrency market cap stands at $2.87 trillion, with 
Bitcoin showing a modest 24-hour gain of 0.47%. XRP itself is trading at $1.37, up 0.51% in the last 24 hours but down 8.85% over the past week, with a market cap of $86.57 billion. The overall market sentiment, as indicated by the Fear & Greed Index, is at 57, indicating 'Greed.'
Since this brief published about 27 hours ago, XRP (XRP) has moved from $1.37 to $1.37 — +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 ≈ ₹141.9 (about $1.37), up 0.1% over 24 hours. The rupee itself trades about 8.0% 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.
Evernorth's XRP-Backed Nasdaq Listing Follows SPAC Merge — questions & answers
What is Evernorth's connection to Ripple?
Evernorth is a company with significant ties to Ripple, including XRP holdings and major stakeholders like Chris Larsen and SBI Holdings.
Why did most SPAC investors redeem their shares?
80% of SPAC investors redeemed their shares before the listing, suggesting a lack of confidence or interest in Evernorth's long-term prospects.
How much has Evernorth's XRP holdings depreciated?
Evernorth's XRP holdings are now worth about 40% less than at the time of the deal's signing.
How much is 1 XRP worth in rupee today?
About ₹141.9 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.
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.