Here’s what’s happening 👇
📊 A new firm backed by Ripple Labs, called Evernorth Holdings, is raising over $1 billion to build a dedicated XRP treasury.
🏦 They plan to list on Nasdaq Stock Market via a SPAC merger with Armada Acquisition Corp II, expected to trade under the ticker “XRPN”.
💼 The objective: use most of the funds to buy XRP in the open market, making Evernorth one of the largest publicly-traded XRP treasury vehicles.
📈 Analysts say this move could trigger a strong positive price reaction for XRP, given the institutional scale and visibility.
💡 What this could mean:
X-factor for retail & institutional interest in XRP
Potential price momentum if the vehicle executes as planned
A new pathway for broader market exposure to XRP via equity + crypto combo
⚠️ Reminder – As always in crypto: past performance isn’t a guarantee, execution matters & regulatory or market risks remain.