According to U.Today, Evernorth has completed its merger with a special purpose acquisition company (SPAC) and is now positioned to list on the Nasdaq exchange. The transaction involved approximately 473 million XRP held by Ripple-backed entities and generated around $300 million in cash proceeds. Despite this development, the price of XRP continues to decline.
The SPAC merger marks a key milestone for Evernorth as it moves toward its Nasdaq listing. The company holds significant amounts of XRP as part of its post-merger structure, with approximately 473 million XRP included in the agreement. Proceeds from the transaction total about $300 million in cash. While the completion of the SPAC merger signals progress for Evernorth’s public market entry, market conditions or other factors have led to a continued downward trend in XRP’s price, according to available information.
