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XRP has recovered above $1.50 after falling below $1.47 on Sep. 30, as a reported shareholder vote in favor of Evernorth\u2019s merger with Armada Acquisition Corp. II has advanced the Ripple-backed company\u2019s planned Nasdaq listing.<\/p>\n
\n Summary<\/span>\n <\/p>\n <\/p>\n XRP traded around $1.51, up roughly 1.89%, as news of the vote circulated. The publication attributed the result to Bear Champ, an XRPL collaborator who said on X that he had listened to the shareholder meeting.<\/p>\n \u201cListened in on the Armada\/Evernorth merger vote, it passed,\u201d Bear Champ wrote.<\/p>\n Under Evernorth\u2019s disclosed transaction terms, shareholder approval would allow the proposed combination to proceed toward closing, with the company expecting to trade on Nasdaq under XRPN once the remaining closing and listing conditions are satisfied.<\/p>\n <\/p>\n In the Sep. 30 session, XRP climbed toward $1.55 earlier in the day before retreating. The token then spent several hours trading mainly between $1.48 and $1.50, before renewed buying carried it back toward $1.51.<\/p>\n During another advance around midday, XRP briefly reached approximately $1.54. The price subsequently slipped toward $1.50 again, with a later recovery following a drop below $1.47.<\/p>\n The merger vote was a catalyst for the rebound. Its account placed XRP\u2019s latest recovery alongside the reported shareholder approval, while the price sequence showed several gains and pullbacks within the same trading session.<\/p>\n For the proposed public company, Evernorth\u2019s registration materials describe an expected treasury balance of at least 473,276,430 XRP at closing. The disclosed figure combines token purchases and commitments from transaction participants, rather than representing a planned sale of 473 million XRP.<\/p>\n On Aug. 28, crypto.news covered the September shareholder vote<\/a> after the U.S. Securities and Exchange Commission declared Evernorth\u2019s Form S-4 registration statement effective on Aug. 27. The report identified the shareholder meeting, remaining closing conditions and Nasdaq listing requirements as separate steps in the transaction. Eligible voters were Armada shareholders who held shares on the Aug. 20 record date.<\/p>\n According to the definitive proxy materials described in that coverage, public shareholders could support the merger while separately requesting redemption of their shares. The deadline for submitting redemption requests was Sep. 28, two business days before the meeting.<\/p>\n The proxy materials also explained that redemptions could reduce the cash Armada contributes to the combined company. Final proceeds would depend on financing commitments, closing adjustments and investors meeting their funding obligations.<\/p>\n For U.S. stock investors, Evernorth\u2019s Aug. 27 announcement described the proposed company as a public-market vehicle offering exposure to XRP through its treasury operations. In the same SEC-filed announcement, the company stated that neither the SEC nor any state securities regulator had approved or rejected the transaction or assessed its merits or fairness.<\/p>\n Evernorth said it plans to allocate capital to XRP-based infrastructure and pursue treasury strategies intended to increase XRP per share. Its disclosed plans include yield strategies, participation in the XRP ecosystem and capital-market activities.<\/p>\n In a Sep. 21 report on Evernorth\u2019s conditional debt financing agreement<\/a>, the publication detailed a proposed issuance of $30 million in convertible senior notes carrying 4% annual interest and maturing in 2031.<\/p>\n According to Evernorth\u2019s SEC disclosure, the agreement was signed on Sep. 11 with NH Investment & Securities Co., acting as trustee for Kyobo AIM Corporate Finance General Private Investment Trust No. 3. Payment for the notes and their issuance are scheduled to occur concurrently with the Armada business combination.<\/p>\n Evernorth told the SEC that proceeds could fund general corporate purposes, including XRP purchases and other activities within the token\u2019s ecosystem. The disclosed terms leave the company discretion over how much of the financing goes toward acquiring XRP.<\/p>\n Under the note agreement, interest is paid in kind, meaning it is added to the outstanding principal rather than paid as regular cash interest. The filing identifies the notes as senior unsecured obligations.<\/p>\n The Sep. 21 coverage also detailed an earlier purchase of approximately 84.37 million XRP for $214 million in November 2025, at an average price of about $2.5366 per token. Separately, the transaction agreements disclosed a contribution of 126,791,458 XRP from Ripple.<\/p>\n\n\n
XRP regains $1.50 after repeated intraday reversals<\/h2>\n
Evernorth\u2019s Nasdaq plan follows an effective SEC registration<\/h2>\n
A $30 million financing agreement depends on closing<\/h2>\n
Executive agreements formed part of earlier merger filings<\/h2>\n