Evernorth Listing Fails to Stir XRP Price Despite $1B in Assets
Ripple-backed Evernorth is set to list on Nasdaq under the ticker XRPN on October 8, 2026, with approximately 473 million XRP tokens and over $1 billion in assets.
The company's CEO Asheesh Birla is a former senior executive at Ripple who left the board to lead Evernorth. Its funding comes from influential investors including Ripple, SBI Group, Pantera Capital, Arrington Capital, Kraken, and GSR.
Evernorth's $1 billion in value consists of XRP tokens valued at around $720 million at the current price of $1.52 per token and about $300 million in cash from private placements and other sources.
The listing itself is unlikely to significantly affect XRP's price, as Evernorth already possesses its 473 million XRP, and its lending strategy may put more tokens in the hands of short sellers, potentially weighing on XRP supply rather than lifting it.