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EvernorthXRP ties SPAC merger share issuance to XRP price, aiming Nasdaq listing under XRPN ticker.

Market News
13 Aug 2026, 18:32 WIB
Crypto Briefing
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Neutral
EvernorthXRP ties SPAC merger share issuance to XRP price, aiming Nasdaq listing under XRPN ticker.

EvernorthXRP, backed by Ripple, amended its SPAC merger terms with Armada Acquisition Corp. II to link share issuance to XRP's closing price instead of a fixed reference price. This change aligns the share issuance more closely with XRP's market value, potentially affecting XRP's pricing dynamics. The merger aims to list EvernorthXRP on Nasdaq under the ticker XRPN, with plans to acquire at least 473 million XRP at the merger's start. Market reaction is currently muted, but regulatory updates and broader crypto trends could influence XRP's future price movements.

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