Evernorth’s XRPN Shares Trade 1.29 Million Shares on Debut

Evernorth’s XRPN shares traded approximately 1.29 million shares during their Oct. 12 Nasdaq debut, giving investors an early gauge of demand for a publicly traded company built around XRP exposure.

XRPN opened at $16.68 and climbed to $19.39 before falling to an intraday low of $16.39. The stock finished regular trading at $16.91, up 1.38%, while after-hours trading later lifted it to $17.49.

XRP trading activity also increased sharply during the session. Daily volume reached about $2.17 billion, a 107% increase from the previous day. XRP traded near $1.37 and was down nearly 9% over seven days.

Evernorth completed its business combination with Armada Acquisition Corp. II on Oct. 9. The company entered public markets with approximately 473 million XRP and around $300 million in gross cash proceeds. The transaction and related private placements raised more than $1 billion, with participation from Ripple, SBI Group, Kraken and Pantera Capital.

The debut came as crypto treasury stocks faced a more cautious market environment. XRPN’s first-session gain contrasted with a 3.5% decline for XRP over the same period, highlighting the different market dynamics between the company’s shares and the asset held in its treasury.