Evernorth enters the public markets holding approximately 473 million $XRP, alongside roughly $300 million in gross cash proceeds. However, it doesn’t plan to be a silent $XRP holder, as it described itself as an actively managed $XRP treasury rather than a vehicle that simply holds the token. It also has plans to deploy capital across areas such as institutional yield strategies, infrastructure, on-chain credit, and other $XRP ecosystem activities.
AllInCrypto described the upcoming debut as a “huge day” for Evernorth and especially $XRP, highlighting that institutional adoption for the token is accelerating as the “largest publicly traded $XRP treasury is arriving on Wall Street.”
It’s worth noting, though, that $XRP itself is not being listed on Nasdaq. ETFs tracking its performance already exist, and they are performing quite well. Instead, XRPN gives traditional investors access to a publicly traded company whose treasury and broader strategy center on the cross-border token.
What About Price Recovery?
Xaif Crypto noted that $XRP is holding near $1.40 after a steep macro correction from its all-time high of $3.60, reached last July. The analyst said long-term accumulation and distribution metrics are showing a significant shift, but the immediate level to observe is at $1.50. If the token manages to reclaim it, propelled by renewed momentum, it could restart the mid-August rally to new local peaks.
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$XRP’s Nasdaq Moment Is Here: Evernorth Completes Merger
Lana Valentis offered an even more bullish technical outlook, arguing that $XRP is attempting to rebound after it broke out of a descending channel on the daily chart. The recent retest showed that buyers are indeed present, and she identified the next major targets if the bounce is confirmed: $1.70, $2.20, $2.70, and eventually the 2025 ATH of $3.65.
cryptopotato.com
