Evernorth, an XRP treasury company, expects its shares to begin trading on Nasdaq on Monday, October 12, under the ticker XRPN. XRP held near $1.40 ahead of the debut, while spot XRP ETFs reported zero net flows.
Evernorth expects to begin Nasdaq trading Monday, October 12, under the ticker XRPN. The company confirmed that its merger with Armada Acquisition Corp. II closed on October 9.
Evernorth brings an XRP treasury to public markets
Evernorth reported holdings of approximately 473 million XRP and roughly $300 million in gross cash proceeds before transaction expenses. The listing offers investors exposure to XRP through company shares available in brokerage accounts.
Chief executive Asheesh Birla said the company plans to fund infrastructure and applications supporting wider XRP use. Its investors include Ripple, SBI Group, Pantera Capital, Kraken and GSR, and Evernorth expects to ring Nasdaq's closing bell on October 14.
XRP holds above $1.40 as resistance sits at $1.45
XRP traded at $1.4160 on October 11, with its latest four-hour candle down 0.66%. It remained above the $1.40 support after recovering from a sharp decline earlier in the week.
Initial resistance stood at $1.45, and a sustained four-hour close above that level could support further gains. A breakout would bring $1.50 into focus, and the next potential target would be the previous trading region near $1.60. However, a sustained move below $1.40 would weaken the recovery.
XRP ETFs record zero net flows while options volume jumps
The five XRP spot ETFs reported zero net flows on October 9, according to SoSoValue data. Total net assets stood at $1.57 billion, and trading volume totaled $26.33 million.
In derivatives, XRP volume rose 3.71% to $1.51 billion, while open interest declined 0.37% to $3.08 billion. Options volume climbed 302.85% to $6.90 million.
Source: CoinGape
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