Ripple-Backed Evernorth Wins SEC Approval for Merger and Nasdaq Listing

Key Facts

1Ripple-backed Evernorth Holdings received US SEC approval for its merger with Armada Acquisition Corp II.

2Shareholders are scheduled to vote on the merger deal on September 30, 2026.

In a move that strengthens the institutional presence of digital assets in traditional markets, Ripple-backed Evernorth Holdings has received US SEC approval for its merger with Armada Acquisition Corp II. According to reports, this regulatory milestone paves the way for the company's listing on the Nasdaq and the execution of its strategy to integrate XRP into corporate treasury operations. Shareholders are scheduled to vote on the merger deal on September 30, 2026.

These developments coincide with significant momentum for XRP-related investments, as analyst data indicated XRP ETF inflows of $18.47 million on Thursday, bringing total inflows to $1.64 billion. Following the treasury news, XRPN stock rose to close at $10.55 on Thursday, marking a year-to-date gain of nearly 3.50%, even as trading volumes dipped by 7% ahead of crypto options expiry.

Looking ahead, investors are focused on the shareholder vote at the end of September as the primary catalyst for completing the business combination and launching the proposed XRP treasury. Based on market data available as of August 28, 2026, current price levels remain sensitive to regulatory progress, while the upcoming economic calendar shows no direct catalysts for the entity, keeping the spotlight on the merger timeline.