Countdown Begins: 473 Million XRP Treasury Eyes Nasdaq Debut

Ripple-backed XRP treasury company Evernorth is approaching a major milestone as its Class A common stock prepares to trade on Nasdaq under the ticker XRPN.

Hussein Zangana (Vet), director of community at the XRP Ledger Foundation, highlighted this milestone in a recent X post.

“Today is Evernorth day,” Vet posted, noting that trading was expected to begin in about an hour at the time of the post. Vet pointed out that the listing concerns Evernorth itself, rather than the special purpose acquisition company (SPAC) previously associated with the transaction.

“In about an hour, the Evernorth company itself (not the SPAC) begins trading under XRPN,” Vet wrote. He added that this will be the first time a major company focused on participating in the XRP Ledger (yield strategies, liquidity, and XRPL infrastructure) is trading on the stock market.

Evernorth was earlier expected to close on October 7, 2026, with trading on Nasdaq under the ticker “XRPN” expected to begin on October 8, 2026, but this was shifted due to an administrative delay.

On October 9, Evernorth announced it had completed its business combination with Armada Acquisition Corp, with XRPN expected to begin trading on Nasdaq on Monday, October 12, subject to Nasdaq listing requirements.

473 Million XRP Meets Public Markets

Evernorth’s journey to going public began when Armada II shareholders approved the business combination at the extraordinary general meeting on September 30, 2026.

Formed through a business combination between Evernorth and Armada II, Evernorth, following its closing, will be a publicly traded digital asset treasury that provides investors with exposure to XRP. The company also intends to pursue strategies aimed at growing its XRP per share over time through yield strategies, ecosystem participation, and capital markets activities.

With the recent milestone, Evernorth becomes the largest publicly traded pure-play XRP treasury company, with about 473 million XRP.

To celebrate its first week as a public company with the community that has been ringside since the first bell, the final chapter of Bear Champ XRPL and Evernorth will premiere in Times Square, New York, on October 14 at around 4 p.m. ET, according to an X post by the official Evernorth social media account.