Evernorth's $300M SPAC Merger and 473M XRP Treasury Set to List on Nasdaq
Evernorth's public listing could bring new institutional attention to XRP, though the asset's price remains subdued.
Evernorth's public listing could bring new institutional attention to XRP, though the asset's price remains subdued. XRP (XRP) is trading at $1.39, down 0.7% since this brief published. This is an original TLT brief synthesising 4 outlets (Crypto.news, U.Today, ZyCrypto, and others), with their figures cross-checked, plus live market data, as of Sun, 11 Oct 2026 08:30:03 UTC.
The public listing of Evernorth's significant XRP holdings could increase institutional interest in the cryptocurrency, while the company's $300M cash raise provides a substantial financial cushion. This development highlights the growing mainstream adoption of digital assets and their integration into traditional financial structures.
- Ripple's XRP Reach Widens as Paxos Adds 8.1M+ Wallets, With Evernorth Set for Monday Nasdaq Debut ↗
- Evernorth’s XRP treasury goes public. Can the listing lift XRP price? ↗
- XRP Treasury Evernorth Completes SPAC Merger With 473M XRP ↗
- Ripple-Backed Evernorth Secures Major Deal Ahead of Nasdaq Listing: Why Is XRP Price Still Down? ↗
- Evernorth completed SPAC merger with Armada Acquisition Corp. II on October 9.
- Company holds 473 million XRP and raised $300 million in cash.
- XRP price remains near $1.40 despite potential institutional interest.
- Nasdaq trading debut expected on October 12.
All three outlets - Crypto.news, U.Today, and ZyCrypto - confirm that Evernorth completed its SPAC merger with Armada Acquisition Corp. II and will list on Nasdaq on October 12 with approximately 473 million XRP and $300 million in cash proceeds. However, while Crypto.news and U.Today explicitly mention the $300 million cash raise, ZyCrypto focuses more on the broader institutional adoption of XRP, particularly through Paxos' support. The outlets agree on the timing and the XRP holdings but differ slightly in their emphasis on the financial and market implications.
- Evernorth Delays Nasdaq Listing Amid Market Turmoil and XRP Ledger Upgrades
- Evernorth Delays XRPN Nasdaq Listing to October 12 Amid Administrative Issues
- Evernorth's $300M SPAC Merger and 473M XRP Treasury Set to List on Nasdaq — this brief
Evernorth, a company formed through a merger with Armada Acquisition Corp. II, has completed its special purpose acquisition company (SPAC) merger and is set to begin trading on Nasdaq on October 12. The company holds approximately 473 million 
XRP, according to multiple outlets including Crypto.news and U.Today.
In addition to its XRP holdings, Evernorth raised about $300 million in gross cash proceeds from the merger, as reported by both Crypto.news and U.Today. This substantial cash reserve could provide the company with significant financial flexibility as it enters the public market.
Despite the potential for increased institutional interest in XRP following Evernorth's listing, the cryptocurrency's price remains relatively subdued. At the time of writing, XRP is trading at around $1.40, having fallen 0.64% in the past 24 hours and 6.41% over the past week, according to live market data.
The broader cryptocurrency market remains largely flat, with a total market cap of $2.88 trillion. 
Bitcoin, the largest cryptocurrency by market cap, has seen a modest 0.56% increase in the past 24 hours, while the Crypto Fear & Greed Index stands at 61, indicating a 'Greed' sentiment among investors.
The development comes as XRP gains traction in the mainstream and institutional markets, with Paxos Crypto Brokerage recently adding support for the digital asset, as reported by ZyCrypto. This could further bolster XRP's position as a leading cryptocurrency.
Since this brief published about 22 hours ago, XRP (XRP) has moved from $1.40 to $1.39 — -0.71%.
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 TLT'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.
Over the past 12 months, XRP (XRP) closed within 2.5% of today's $1.39 on 76 separate days. Here is what the price did afterwards on those days — a historical base rate, not a forecast:
Computed by TLT from 12 months of daily closing prices. A base rate describes the past distribution of outcomes from similar price levels — it does not predict the future and ignores the specific news in this story. Crypto is volatile and past performance is not indicative of future results. Not financial advice.
At today's peer-to-peer rate, 1 XRP ≈ ₦1,897.59 (about $1.39), down 0.9% over 24 hours. The naira itself trades about 2.6% above the official rate on the P2P market, so a Nigerian 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.
TLT 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.
TLT 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's $300M SPAC Merger and 473M XRP Treasury Set — questions & answers
What is Evernorth's XRP holding?
Evernorth holds approximately 473 million XRP.
How much cash did Evernorth raise from the SPAC merger?
Evernorth raised about $300 million in gross cash proceeds.
When will Evernorth start trading on Nasdaq?
Evernorth is expected to begin trading on Nasdaq on October 12.
How much is 1 XRP worth in naira today?
About ₦1,897.59 at the live peer-to-peer (P2P) USDT rate, which is what Nigerians typically trade at — equivalent to roughly $1.39. The naira price moves with both XRP's US-dollar price and the USDT/NGN rate; use our XRP in naira page for any amount.
Has XRP's price moved since this brief was published?
XRP is down 0.71% since this brief first published — trading at $1.39 now versus $1.40 at publication. TLT re-checks this figure against CoinGecko and Binance every 15 minutes.
Which outlets reported this story?
This is an original TLT brief that synthesises reporting from Crypto.news, U.Today, ZyCrypto, TronWeekly, 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 TLT 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.