SEC Approves Evernorth Holdings' Merger with Armada Acquisition Corp II

Evernorth Holdings' move toward becoming a publicly traded company has received approval from the U.S. Securities and Exchange Commission for its Form S-4 registration statement.

The firm, backed by Ripple, is planning a merger with Armada Acquisition Corp II, which will result in a combined company trading on Nasdaq under the ticker 'XRPN' after a shareholder vote scheduled for September 30, 2026.

XRP price has increased over 3% to trade near $1.42-$1.46 following the news, with XRP remaining above its 50-day and 200-day moving averages.