Evernorth Holdings closes at record low $11.70 after merger

The XRP digital asset treasury firm Evernorth Holdings, backed by shareholders Ripple Labs, Arrington XRP Capital and SBI Holdings, closed at a record low of $11.70 yesterday evening since its merger took effect.

That marks a 44% drop from its opening-day peak of $21 on October 9.

The fall is even steeper at 78% from the pre-merger $53 peak recorded on the Evernorth investor relations page.

Chris Larsen, a Ripple co-founder, has exposure to Evernorth Holdings via his controlling stake in Ripple Labs and through the Larsen Lam Children’s Remainder Trust. RippleWorks, a nonprofit Larsen co-founded, owns the majority of the Arrington XRP Capital Fund.

On Thursday, the price has edged up from Wednesday's close, hovering mostly above $12.

Evernorth holds about 473 million XRP.

On October 26, the company announced it “had entered into a common stock purchase agreement with CF Principal Investments LLC to establish a committed equity facility for up to 5,218,935 Shares of Class A Common Stock.”

It added, “Assuming the closing stock price of XRPN on October 22, 2026, if fully executed the facility would generate aggregate gross proceeds of approximately $80 million.”

If drawn down, the facility is meant to support “the acquisition of XRP and product development in the XRP ecosystem.”