XRP Treasury Evernorth Completes SPAC Merger, Launches XRPN on Nasdaq
Evernorth, holding 473M XRP and $300M in cash, has completed its SPAC merger and will begin trading on Nasdaq as XRPN.
Evernorth, holding 473M XRP and $300M in cash, has completed its SPAC merger and will begin trading on Nasdaq as XRPN. XRP (XRP) is trading at $1.42, up 0.7% since this brief published. This is an original TLT brief synthesising 2 outlets (TronWeekly, Crypto.news), plus live market data, as of Mon, 12 Oct 2026 05:15:02 UTC.
This development marks a significant expansion of the XRP ecosystem into public markets, potentially increasing institutional interest and liquidity for XRP. The merger also provides substantial capital to support future initiatives within the XRP ecosystem.
- Evernorth completed SPAC merger with Armada Acquisition Corp. II on October 9.
- Firm holds 473M XRP and $300M in cash post-merger.
- Nasdaq trading under ticker XRPN starts October 12.
- XRP price at $1.41, up 1.16% in 24 hours.
Both TronWeekly and Crypto.news confirm that Evernorth completed its merger with Armada Acquisition Corp. II on October 9 and will begin trading on Nasdaq as XRPN on October 12. They agree on the firm's XRP holdings of 473 million and $300 million in cash proceeds. However, Crypto.news emphasizes the market's need to distinguish between existing corporate XRP holdings and potential new market activity, while TronWeekly focuses on the timeline and financial details of the merger.
- XRP Treasury Evernorth Completes SPAC Merger, Launches XRPN on Nasdaq — this brief
- Evernorth Set to List on Nasdaq, Bringing XRP Exposure to Stock Investors
XRP Treasury Evernorth has successfully completed its business combination with Armada Acquisition Corp. II, establishing a publicly traded entity focused on the XRP ecosystem. The merger was completed on October 9, with trading of the new entity's shares under the ticker XRPN expected to commence on Nasdaq on October 12.
Evernorth's financial position post-merger includes approximately 473 million XRP and $300 million in gross cash proceeds. This substantial liquidity and XRP holding could potentially influence market dynamics and provide capital for future investments in the XRP ecosystem.
The completion of the SPAC merger and the upcoming Nasdaq listing have garnered attention in the cryptocurrency community. The move is seen as a significant step for XRP, potentially increasing its visibility and attractiveness to institutional investors.
Currently, the total cryptocurrency market cap stands at $2.89 trillion, with 
Bitcoin up 0.90% in the last 24 hours. XRP itself is trading at $1.41, marking a 1.16% increase in the past day but a 7.51% decrease over the last week. The Fear & Greed Index is at 69, indicating a state of 'Greed' in the market.
The successful merger and Nasdaq listing could attract more institutional interest in XRP, potentially leading to increased liquidity and market activity. Investors will be watching the XRPN share performance and its impact on XRP's price in the coming weeks.
Since this brief published about 40 hours ago, XRP (XRP) has moved from $1.41 to $1.42 — +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.
At today's peer-to-peer rate, 1 XRP ≈ ₦1,938.8 (about $1.42), up 1.8% 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.
Figures and sectors in this story, checked live against on-chain aggregators · October 12, 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.
XRP Treasury Evernorth Completes SPAC Merger, Launches XRPN — questions & answers
What is Evernorth's XRP holding post-merger?
Evernorth holds approximately 473 million XRP after the merger.
When will XRPN start trading on Nasdaq?
XRPN is expected to begin trading on Nasdaq on October 12.
How much cash did Evernorth receive from the merger?
Evernorth received $300 million in gross cash proceeds from the merger.
How much is 1 XRP worth in naira today?
About ₦1,938.8 at the live peer-to-peer (P2P) USDT rate, which is what Nigerians typically trade at — equivalent to roughly $1.42. 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 up 0.71% since this brief first published — trading at $1.42 now versus $1.41 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 TronWeekly, Crypto.news, 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.