Evernorth’s $1 Billion IPO to Create Largest Public XRP Treasury Following Ripple’s Legal Victory
In a groundbreaking development for the cryptocurrency sector, Ripple-backed Evernorth has announced plans for a monumental $1 billion IPO through a merger with Armada Acquisition Corp II, scheduled for completion in Q1 2026. This strategic move comes on the heels of Ripple's significant legal triumph against the SEC, which recently dropped its lawsuit alleging unregistered securities sales. The IPO would establish Evernorth as the largest publicly traded XRP treasury company, marking a pivotal moment for XRP's institutional adoption and mainstream financial integration. The timing of this announcement, following favorable regulatory developments, signals growing confidence in XRP's legal standing and future prospects. This $1 billion capital raise represents one of the most substantial cryptocurrency-related public offerings to date, potentially setting new precedents for how digital assets are valued and traded in traditional financial markets. The Nasdaq listing would provide unprecedented visibility and legitimacy for XRP, potentially attracting substantial institutional investment and paving the way for similar cryptocurrency treasury companies to enter public markets. The merger structure with Armada Acquisition Corp II demonstrates sophisticated financial engineering in the crypto space, combining traditional IPO mechanisms with innovative digital asset strategies. Market analysts are closely watching this development as it could significantly impact XRP's liquidity, market capitalization, and overall position in the cryptocurrency ecosystem. The successful completion of this IPO would not only validate Ripple's business model but also potentially catalyze broader acceptance of XRP in global financial systems. This move represents a strategic pivot toward greater transparency and regulatory compliance in the cryptocurrency industry, potentially influencing how other digital assets approach public market entry and treasury management strategies.
Ripple-Backed Evernorth Aims for $1 Billion IPO to Launch XRP Treasury
Evernorth, backed by Ripple, plans to go public on Nasdaq through a merger with Armada Acquisition Corp II, targeting over $1 billion in capital. The deal, expected to close in Q1 2026, WOULD position Evernorth as the largest publicly traded XRP treasury company.
The MOVE follows Ripple's legal victory against the SEC, which dropped its lawsuit alleging unregistered securities sales. Regulatory shifts under the current administration have fostered a more crypto-friendly environment, benefiting industry players.
"Evernorth offers investors more than just xrp price exposure," said CEO Asheesh Birla. The firm combines TradFi yield strategies with DeFi opportunities to drive ecosystem growth while generating shareholder returns.
Ripple-Backed Evernorth Aims for Nasdaq Listing with $1B XRP Accumulation Plan
Ripple's ecosystem continues to generate market-moving developments as Evernorth, a new venture backed by the blockchain firm, announced plans for a Nasdaq listing via merger with Armada Acquisition Corp II. The $1 billion initiative will focus on institutional-scale XRP accumulation, with former Ripple executive Asheesh Birla at the helm as CEO.
Japanese financial giant SBI and Kraken exchange join as key backers of the venture, which community members compare to MicroStrategy's Bitcoin treasury strategy. "They're creating utility: liquidity pools, lending, and yield programs built around XRP as the base asset," noted prominent XRP commentator Ripple Bull Winkle, highlighting potential supply shocks from direct exchange purchases.
The news comes as Ripple co-founder Chris Larsen reportedly offloads XRP holdings, creating opposing pressure on the token's market dynamics. Evernorth's establishment marks another institutional on-ramp for XRP adoption following Ripple's recent legal victories against the SEC.
XRP's Q4 Outlook: Bullish Momentum or Seasonal Volatility?
XRP investors face a familiar dilemma as the 2025 holiday season approaches. Historical data reveals a pattern of fourth-quarter surges, punctuated by occasional downturns. The altcoin's 363% rally in Q4 2024—fueled by regulatory Optimism and the impending resolution of Ripple's SEC lawsuit—sets a compelling precedent.
Market dynamics appear favorable this cycle, with on-chain metrics showing accelerated accumulation. The potential for a more crypto-friendly SEC under new leadership adds tailwinds, mirroring conditions that preceded previous rallies. Yet the specter of black swan events like 2022's FTX collapse serves as caution against unchecked optimism.
TradingView charts indicate XRP is building what technical analysts describe as a 'bullish foundation.' Whether this translates to year-end gains may hinge on macroeconomic factors beyond crypto's borders—a reality traders would do well to remember.
Ripple's Former CTO David Schwartz Joins $1 Billion XRP Investment Vehicle as Strategic Advisor
Evernorth, a newly formed XRP-focused investment vehicle, has secured a $1 billion commitment to acquire and deploy XRP in decentralized finance (DeFi) and capital markets. The venture counts Ripple's outgoing Chief Technology Officer David Schwartz among its strategic advisors, marking his continued involvement in the XRP ecosystem despite stepping down from Ripple's executive team.
The company plans to list on Nasdaq under the ticker "XRPN" through a merger with special purpose acquisition company Armada Acquisition Corp II. Japan's SBI Holdings has committed $200 million to the initiative, which aims to establish Evernorth as the largest public XRP treasury through open-market purchases.
Schwartz described the venture as "a regulated, scalable investment vehicle" for XRP opportunities. The move reunites former Ripple executives, including ex-RippleNet general manager Navin Gupta, in a bold institutional play for XRP liquidity provisioning and yield generation.
Ripple-Backed Evernorth Secures $1B Deal to Build Largest XRP Treasury
Evernorth Holdings Inc., a Nevada-based entity, has launched with ambitions to drive institutional adoption of Ripple's XRP. The company announced a merger with Armada Acquisition Corp., a SPAC, set to close in Q1 2026. The deal will generate over $1 billion in gross proceeds, including a $200 million investment from SBI and backing from Ripple, Pantera Capital, and Kraken.
The combined entity will trade on Nasdaq under the ticker "XRPN." Evernorth plans to allocate significant capital to acquire XRP on the open market, aiming to establish the world's largest institutional XRP treasury. Remaining funds will support operational initiatives, marking a strategic push into the crypto space.
XRP Price Shows Strength as Traders Anticipate New Highs
XRP's price is exhibiting renewed momentum, climbing 28.13% over the past day to $2.46, with intraday gains of 3.51%. Traders are eyeing resistance levels between $2.80 and $3.10, fueled by steady liquidity and growing institutional interest. The token's $147.54 billion market cap and $3.8 billion daily trading volume underscore its resilience.
Ripple's focus on remittance efficiency and banking integrations continues to attract investors seeking utility over speculation. Analysts suggest that sustained trading volume could propel XRP toward a retest of its all-time high NEAR $3.80. Meanwhile, projects like Remittix (RTX) are emerging as competitors in the cross-border payments space, though XRP remains the dominant player.
