Evernorth Clears SEC Hurdle for Nasdaq Listing as XRP Price Surges
Evernorth Holdings has cleared another hurdle on its path to becoming a publicly traded company. The US Securities and Exchange Commission (SEC) approved the firm's merger registration with Armada Acquisition Corp II, paving the way for a Nasdaq listing under the ticker 'XRPN'. This approval marks an important milestone for Evernorth, according to CEO Asheesh Birla.
The combined company will put its capital into XRP-based infrastructure, aiming to grow XRP holdings per share over time. Armada shareholders are set to vote on the merger on September 30, 2026, which will be the final step before the deal closes.
XRP's price has responded positively to the news, rising over 3% to trade near $1.42-$1.46. The token remains above its 50-day and 200-day moving averages, with technical indicators showing resistance at $1.46-$1.50.