Ripple-Backed Evernorth Postpones Nasdaq Debut to October 12

Evernorth Holdings, a Ripple-backed firm aiming to be the largest publicly traded pure-play XRP treasury, postponed its anticipated Nasdaq listing due to an administrative problem revealed on October 6.

The revised date is October 12, and the XRP price showed little response to the announcement.

Evernorth’s Nasdaq Listing Timeline After the Delay

Evernorth's path to a Nasdaq listing runs through a merger with Armada Acquisition Corp. II, with the combined entity trading as XRPN. After listing, the company's shares will be available for trading on a regulated exchange.

Evernorth anticipates that the combined shares will begin trading on Monday, October 12, subject to closing conditions and Nasdaq listing rules. The initial timeline had a close on October 7 and a first trading day on October 8.

Due to an administrative delay that is not expected to affect the closing, we now expect to close on Friday, October 9th, with XRPN expected to start trading on Nasdaq on Monday, October 12th, in each case subject to customary closing conditions and Nasdaq listing requirements.…

— evernorthxrp (@evernorthxrp) October 6, 2026

Evernorth stated that the postponement is purely administrative and “not expected to affect the closing.” Armada II shareholders had already given their approval for the merger on September 30.

Upon closing, Evernorth expects to hold approximately 473 million XRP and around $300 million in gross cash proceeds. That would make it the largest publicly traded company exclusively focused on XRP treasury management.

Will the Delay Affect XRP Price?

The XRP price dropped nearly 2% on the day, mainly due to a liquidity flush that hit the whole market.

Nonetheless, the altcoin’s underlying fundamentals are still mostly positive. XRP ETFs have logged 12 consecutive weeks of inflows.

Market observers point out that the listing itself won't generate fresh buying pressure for XRP. The bulk of the treasury was contributed by investors and partners ahead of the public debut.

In essence, the XRP that backs the company is already in place, so the listing does not create additional demand for the token. The brief postponement was met with a calm market response.

Over the longer run, a successful debut of XRPN could still benefit XRP. It would provide traditional investors with a regulated equity instrument aimed at increasing XRP holdings per share via active treasury management.

Such access could broaden the investor base gradually, though analysts do not foresee an immediate impact on the price.