Ripple-Backed Evernorth Debuts on Nasdaq via SPAC Merger

Key Facts

1Evernorth shares began trading on Nasdaq under the ticker XRPN following the completion of its SPAC merger.

280% of SPAC investors cashed out before the deal closed, and the company's XRP holdings are worth 40% less than at the time of signing.

Evernorth shares began trading on Nasdaq under the ticker XRPN following the completion of its merger with a special purpose acquisition company (SPAC). Decrypt reported that the Ripple-backed firm debuted as the first XRP asset treasury company listed on a major United States exchange.

The listing faced significant headwinds as 80% of SPAC investors cashed out their holdings before the deal closed. According to Decrypt, the company's XRP holdings are currently worth 40% less than at the time of the initial signing, while NDAQ shares closed at $93.65 on October 9, 2026.