Nasdaq Listing and Escrow Release to Shake Up XRP Price

XRP's price has been stuck at $1.50 since September 22, and two upcoming events could shake things up. On Wednesday, shareholders of a special purpose vehicle, Armada Acquisition Corp. II, will vote on whether to merge with Evernorth Holdings and list on the Nasdaq under the ticker XRPN. If the merger is approved, the combined company's balance sheet will include at least 473 million XRP, with Ripple contributing 126 million XRP of that amount.

The other event is the opening of Ripple's escrow window on October 1, which could release up to 1 billion XRP into the market. This represents around 46% of the daily trading volume and could have a significant impact on the price.