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Crypto

XRPN Listing Puts XRP Valuation in Spotlight

Guavy AI Editorial Team
Instruments
XRP
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Evernorth (XRPN), a new XRP-focused company backed by Ripple and SBI, is gearing up for its Nasdaq debut. The company has received over $1 billion in investment commitments from several investors, including Ripple and SBI, with SBI committing $200 million in cash.

The expected gross cash proceeds at closing are approximately $300 million, while the larger figure includes the value of XRP contributions and other related placements.

According to investor Matthew, MBA, if XRPN trades at around $24 per share, the company would be worth $750 million. This is close to the book value of its existing XRP holdings, which currently stand at approximately $413 million.

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