Evernorth Holdings (XRP Treasury Evernorth Holdings) Evernorth Holdings has filed a second amendment to its registration statement (Form S-4) with the U.S. Securities and Exchange Commission. This amendment supports the proposed merger with Armada Acquisition Corp 2, a special purpose acquisition company sponsored by Arlington XRP Capital Fund LP. The merger aims to create the largest publicly traded XRP asset management company, with access to the XRP ecosystem. Evernorth has raised over $1 billion in total proceeds and plans to list under the ticker symbol "XRPN" on NASDAQ. The company's list of institutional and strategic investors includes Arlington Capital, Ripple, SBI Holdings, Pantera Capital, and Kraken. Ripple contributed 126,791,458 XRP tokens to the company. The company is expected to initiate initial investments of at least 473,276,430 XRP tokens. Evernorth is awaiting approval from the U.S. Securities and Exchange Commission for the registration statement, which is still under review and comment. The proposed merger also seeks shareholder approval from Armada Acquisition Corp. Evernorth Holdings announced the appointment of new board members As XRP Evernorth’s treasury advances toward the merger, it has nominated OpenAI CFO Robert Caiden and Antalpha COO Derrar Eslim for board membership. Ted Janos, Robert Caiden, and Derrar Eslim will serve as "independent directors," according to NASDAQ rules. As previously reported by CoinGape, Stewart Aldertoti, Ripple’s Chief Technology Officer, was appointed to its board. The latest amendment also includes a proxy card template for attending the extraordinary general meeting of the SPAC. It also notes the approval of Deloitte & Touche and CBIZ, Inc., as independent accounting firms, for Evernorth Holdings. The nominations of Robert Caiden and Derrar Eslim bring extensive expertise in financial auditing and other financial matters. Eslim’s career path combines traditional Wall Street experience with leadership in the evolving digital assets space. CEO Ashish Beryla, a former Ripple executive, confirmed that Evernorth will contribute to broader institutional adoption of XRP. He praised the guidance from the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission, which classify some digital assets, including XRP, as digital commodities. XRPN Stock and XRP Price Movement Armada Acquisition Corp 2’s (XRPN) stock price decreased by 0.14% to $10.34 in pre-market trading on Wednesday. However, the XRPN stock listed on NASDAQ remains up nearly 1.30% since the beginning of the year, and over 3% over the past year.

Look, I was following the news about XRP and remembered that at the beginning of January Ripple released 1 billion tokens from escrow, as they do every month. Interestingly, this time the market was paying attention to how much would actually enter circulation, because historically they lock away a good portion again – in the previous month it was about 70% anyway. People were worried whether this January release would impact the price, especially with the CLARITY Act affecting the regulatory environment. But looking now at where XRP is, it seems the market has digested the situation well. The price is around $1.38 and the coin continues with its normal movements. What’s clear is that these periodic XRP releases are well known and the market has already priced this in. It’s no longer that scare from before – everyone already knows Ripple will release 1 billion and then re-lock them. The news about XRP in January showed that there’s a certain predictability in this game.

Recently, my attention was drawn to an XRP analysis by a trader monitoring the monthly chart. He found something interesting—XRP shows bullish divergence in the RSI while also retesting an uptrend line that has held for seven years. He believes this combination could be a sign of hidden internal strength. According to his projection, if Bitcoin dominance begins to decline significantly, XRP could enter its next phase of major expansion. He targets XRP’s market cap to be nearly $325 miliar, which means the price could reach $5.32 per token. Currently, XRP is trading at $1.39, far from that level. For context, this implies roughly a 4x gain from the current position. But he’s also realistic—there’s a lower “pink box” scenario that could still happen, which he considers an opportunity to accumulate before the main rally. The key point is that the bullish divergence on the monthly timeframe will remain valid even if there’s a deeper pullback. So he basically sees two possibilities: continue upward directly, or drop once first before a larger long-term expansion. This theory lines up with broader expectations in the community—when Bitcoin dominance falls, usually big altcoins like XRP get their turn. 2017 was a perfect example: Bitcoin dominance fell from 95% to 37%, while XRP jumped more than 70,000%. This time, XRP is already up more than 600% since the start of the year, but it’s still 60% below its 2025 peak. Everything depends on whether Bitcoin dominance will truly break down this year or next.