Nasdaq Listing Puts XRP on Path to $2 as Supply Crunch Looms

The Nasdaq listing of Evernorth shares under the ticker XRPN is set to begin on October 8, 2026. This marks a significant development for XRP as Evernorth's financial foundation consists of 473 million XRP on its balance sheet.

This makes it the largest legally held XRP pool among publicly traded companies worldwide. The merger with SPAC Armada II, approved by shareholders on September 30, attracted more than $1 billion in combined investments.

The goal is to continuously increase the amount of net XRP held per XRPN share, which could lead to a large-scale withdrawal of liquidity from circulation and create a supply crunch. This, in turn, could drive up the price of XRP towards $2 if current demand holds.