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XRP drops 8% ahead of Evernorth's Nasdaq listing with $670M XRP treasury exposure

Market News
12 Oct 2026
FXEmpire
View Source
Bullish
XRP drops 8% ahead of Evernorth's Nasdaq listing with $670M XRP treasury exposure

XRP fell over 8% in 24 hours before Evernorth, holding $670 million in XRP, lists on Nasdaq via a merger with Armada Acquisition Corp under ticker XRPN. Evernorth plans to monetize its XRP holdings through lending and liquidity strategies, aligned with XRP Ledger proposals for a lending protocol. The company also holds $300 million cash to potentially buy more XRP, supporting price stability around $1.32. Analysts watch this level closely, as a drop below could signal a deeper correction to $1, while a bounce might indicate a bullish rally continuation amid upcoming inflation data and Federal Reserve decisions.

XRP price prediction and Evernorth's Nasdaq listing are the story's subject, with Pluang market data as of Oct 12, 2026 22:21 WIB. For readers following major cryptocurrencies on Pluang, 16 out of 50 rose and 33 fell today. Notable movers include NEO at Rp44.904 with a 1-day change of -6.19%, VET at Rp136 with -4.62%, and GRT at Rp471 with -4.56%.

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