Ripple-Backed Evernorth Lists on Nasdaq with $1 Billion and 473M XRP

Evernorth, a company backed by Ripple, is set to list on Nasdaq under the ticker XRPN on October 8, 2026. The firm will have around 473 million XRP (CRYPTO:XRP) tokens on its balance sheet, valued at approximately $720 million at the current price of $1.52.

The company's funding comes from various influential investors, including Ripple and SBI Group, and it has about $300 million in cash, largely from private placements. However, this mix of XRP and cash does not guarantee new demand for the token, as Evernorth already owns its 473 million XRP.

The firm plans to use its XRP actively through lending, liquidity support, and other activities. This could increase the amount of XRP backing each share over time, a key performance metric for companies like this.