Evernorth Holdings Inc. has confirmed a Nasdaq listing through a SPAC merger. The firm will raise over $1 billion. Most of these funds will go toward building the most extensive institutional XRP treasury.
Evernorth announced its merger with Armada Acquisition Corp II to list on Nasdaq. It plans to trade under the ticker XRPN. The new entity will focus on institutional adoption of XRP.
Ripple, SBI Holdings, and Pantera Capital will contribute significant funding. Evernorth aims to buy XRP directly from the market. The expected amount for XRP purchases ranges from $800 million to $1 billion.
According to the press release, the company will use the rest for operations and transaction-related costs. XRP price traded at $2.41 during the announcement. That placed XRP’s market capitalization at $145 billion, with approximately 59.97 billion tokens in circulation.
Google’s Gemini model suggested Evernorth could acquire 332–415 million XRP. The model noted this equals under 1% of total XRP supply. However, market psychology and momentum may drive greater price shifts.
“A public and sustained XRP buying program can create major excitement,” Gemini estimated. Traders may anticipate rising XRP price levels in the near future. This could build a wave of institutional and retail interest.
Gemini compared it to MicroStrategy’s Bitcoin strategy. That move triggered a long rally as institutions followed. Evernorth’s plan could spark a similar dynamic if investors respond quickly.
This projected surge in demand may push the XRP price higher. Gemini’s forecast expects possible price targets of $10 to $15. That would place XRP’s valuation between $600 billion and $900 billion.
Evernorth’s listing and XRP buying plan remain conditional. The SPAC merger must close and all Nasdaq requirements be met. If successful, it would mark a significant milestone for XRP.
The timeline for XRP treasury accumulation is still unclear. But Evernorth aims for sustained, open-market purchases. This strategy could influence short-term and long-term XRP price action.
If the market views Evernorth’s program as a bullish signal, XRP price may react positively. Investors may race to enter before large-scale purchases begin. That behavior could drive strong upward price momentum.
However, no official timeline exists for Evernorth’s execution. Market expectations may shift depending on progress. XRP price trends will reflect the real pace of funding, listing, and accumulation.
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Maxwell is a crypto-economic analyst and blockchain enthusiast, passionate about helping people understand the potential of decentralized technology. His goal is to spread knowledge about this revolutionary technology and its implications for economic freedom and social good.
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