XRP Price Surge: Nasdaq Listing Could Drive Token to $2

Nasdaq listing to impact XRP price, potentially driving it to $2. Evernorth, a new player in the market, will start trading on Nasdaq on October 8, 2026, under the ticker XRPN. This is not a passive ETF, but a fully-fledged treasury that will work directly with the Ripple and XRP Ledger ecosystem. Evernorth's financial foundation is 473 million XRP on its balance sheet, the largest legally held XRP pool among publicly traded companies worldwide.

The merger with SPAC Armada II, approved by shareholders on September 30, attracted over $1 billion in combined investments. Anchor investors include Ripple, SBI Group, Pantera Capital, and the Kraken exchange. Instead of freezing the assets, Evernorth will deploy the coins in DeFi protocols and arbitrage trades on the XRP Ledger.

The goal is to continuously increase the amount of net XRP held per XRPN share, leading to a large-scale withdrawal of liquidity from circulation. This could drive the token's spot market price up to $2, as a supply crunch emerges. Historically, the fourth quarter is the asset's strongest period, with average returns of +80.2% in November and +63.1% in December.

However, there are risks to consider. A speculative pattern may prompt traders to take quick profits and trigger sharp volatility in the first days of XRPN trading. Additionally, the Nasdaq listing means direct exposure to the health of the U.S. market, which could slow the fund's performance if there is a broad correction in U.S. indexes.