{"id":79452,"date":"2026-10-13T09:14:17","date_gmt":"2026-10-13T09:14:17","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/xrp-price-at-1-37-leaves-evernorths-214m-xrp-buy-46-underwater\/"},"modified":"2026-10-13T09:14:17","modified_gmt":"2026-10-13T09:14:17","slug":"xrp-price-at-1-37-leaves-evernorths-214m-xrp-buy-46-underwater","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/xrp-price-at-1-37-leaves-evernorths-214m-xrp-buy-46-underwater\/","title":{"rendered":"XRP Price at $1.37 Leaves Evernorth&#8217;s $214M XRP Buy 46% Underwater"},"content":{"rendered":"<p><b>(Originally posted on : Bitcoin News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"@container mb-[25px] rounded-sm overflow-clip py-0.5 pr-0.5 pl-2.5 bg-success-100\">\n<div class=\"flex flex-col gap-m overflow-clip rounded-[6px] !bg-success-10 p-3 @[420px]:p-m\">\n<h2 class=\"m-0 flex items-center gap-s text-[19px] !text-[#1c1c1c] md:text-[20px]\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"10\" viewbox=\"0 0 16 10\" fill=\"none\" class=\"shrink-0 text-success-100\" aria-hidden=\"true\"><path d=\"M1 1.5h14\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><path d=\"M1 8.5h10\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><\/svg><span>Key Takeaways<\/span><\/h2>\n<ul class=\"m-0 flex list-none flex-col gap-m pl-0\">\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Hugo Jeandesboz joins Evernorth as CIO to put its 473M XRP to work through lending and liquidity strategies.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">XRPN touched $19.39 on Oct. 12 before closing at $16.91, about 68% below its Oct. 2 peak of $53.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">XRP slid to $1.35 on debut day, and Evernorth\u2019s Nasdaq bell ceremony is set for Oct. 14.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<h2>The Hire Nobody Was Pricing in<\/h2>\n<p>Evernorth used its first day as a Nasdaq-listed company to <a href=\"https:\/\/www.manilatimes.net\/2026\/10\/12\/tmt-newswire\/globenewswire\/evernorth-names-hugo-jeandesboz-chief-investment-officer\/2443737\" target=\"_blank\" rel=\"noopener noreferrer\">name Hugo Jeandesboz as its chief investment officer (CIO)<\/a>. He was most recently co-CIO of Coinbase Asset Management and, before that, Coinbase\u2019s lead derivatives trader covering options, futures and onchain markets. Earlier in his career, he traded interest rate derivatives at HSBC in New York and fixed income at Soci\u00e9t\u00e9 G\u00e9n\u00e9rale.<\/p>\n<p>His duties cover treasury allocation, liquidity management and \u201cthe active management of Evernorth\u2019s XRP holdings,\u201d according to the company\u2019s announcement. He will report to founder and CEO Asheesh Birla, a former senior Ripple executive.<\/p>\n<p>Birla said the growth of tokenized real-world assets and \u201crecent XRP Ledger upgrades that are bringing lending and DeFi to XRP\u201d create opportunities, using the shorthand for decentralized finance, and that \u201ccapturing them takes someone who has priced risk on institutional desks in both traditional and digital asset markets.\u201d Jeandesboz said the XRP Ledger \u201cis becoming infrastructure where institutional capital can operate.\u201d<\/p>\n<h2>So Why Did XRPN Keep Sliding?<\/h2>\n<p>The hire tells investors Evernorth won\u2019t be a passive XRP vault, but the stock\u2019s first session suggests the market cares more about what happened before the opening bell.<\/p>\n<p>XRPN, trading under the former Armada Acquisition Corp. II shell, had peaked at $53 on Oct. 2 after a speculative run from around $10.68. By the time Evernorth officially started trading on Oct. 12, most of that froth was gone. Shares <a href=\"https:\/\/x.com\/skipper_xrp\/status\/2109796320533966870\" target=\"_blank\" rel=\"noopener noreferrer\">reached $19.39 intraday<\/a> before fading, and the regular session <a href=\"https:\/\/news.bitcoin.com\/featured\/evernorth-hits-nasdaq-with-473-million-xrp-as-xrpn-trading-begins\/\">closed at $16.91<\/a>, down 1.05%, before ticking up to $17.37 after hours. That close sits about 68% below the $53 peak.<\/p>\n<p>Three things weighed on the debut:<\/p>\n<ul>\n<li style=\"font-weight:400\" aria-level=\"1\"><b>Redemptions:<\/b> About 80.3% of eligible Armada shares were redeemed for roughly $195.39 million in cash, according to the company\u2019s <a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/2092592\/000119312526419146\/d24481d8k.htm\" target=\"_blank\" rel=\"noopener noreferrer\">Form 8-K filing<\/a>, which leaves a thin public float.<\/li>\n<li style=\"font-weight:400\" aria-level=\"1\"><b>Dilution jitters:<\/b> A correction to the share issuance figure, from 663,510 to 1,078,614 Class A shares, spooked some holders, feeding a sell-the-news trade.<\/li>\n<li style=\"font-weight:400\" aria-level=\"1\"><b>The token itself:<\/b> XRP <a href=\"https:\/\/x.com\/cryptodylnews\/status\/2109769175266725964\" target=\"_blank\" rel=\"noopener noreferrer\">fell to $1.35<\/a> on debut day as total crypto market capitalization dropped 3.4% to roughly $2.80 trillion.<\/li>\n<\/ul>\n<h2>The Number Underneath the Treasury<\/h2>\n<p>Evernorth closed its merger with <a href=\"https:\/\/news.bitcoin.com\/featured\/evernorth-hits-nasdaq-with-473-million-xrp-as-xrpn-trading-begins\/\">approximately 473 million<\/a> XRP and about $300 million in gross cash. Most of that XRP was contributed by Ripple, the sponsor and a related party, but about 84.37 million XRP was bought for $214 million, an average of roughly $2.54 per token.<\/p>\n<p>With XRP trading near $1.37 today, that purchased tranche is worth about $115.6 million, roughly 46% below cost. It isn\u2019t the only XRP position underwater and Bitcoin.com News reported recently that XRP exchange-traded fund (ETF) buyers are <a href=\"https:\/\/news.bitcoin.com\/finance\/xrp-etf-inflows-paper-loss-bitwise-streak\/\">sitting on a $230 million paper loss<\/a>.<\/p>\n<p>Lastly, the same day as the debut, Standard Chartered added <a href=\"https:\/\/news.bitcoin.com\/featured\/ripples-rlusd-gains-standard-chartered-custody-on-the-xrp-ledger\/\">custody for Ripple\u2019s RLUSD stablecoin on the XRP Ledger<\/a>. Meanwhile, bitcoin\u2019s price slipped under $82,000 as <a href=\"https:\/\/news.bitcoin.com\/market-updates\/bitcoin-price-falls-below-82k-as-406m-in-longs-get-liquidated\/\">$406M in longs<\/a> were liquidated, which pulled the whole market down with it.<\/p>\n<p>Looking ahead, Evernorth\u2019s pitch seems to lie in growing XRP per share through lending, liquidity provision and other yield strategies rather than waiting for XRP\u2019s price to do the heavy lifting.<\/p>\n<div class=\"not-prose my-3 lg:my-4\">\n<div class=\"overflow-hidden rounded-lg !bg-[#E8EDFA] p-[9px] hidden md:flex md:flex-row md:gap-3 lg:hidden\"><a aria-hidden=\"true\" tabindex=\"-1\" class=\"relative size-[150px] min-w-[150px] shrink-0 overflow-hidden rounded-[15px]\" href=\"https:\/\/news.bitcoin.com\/evernorth-hits-nasdaq-with-473-million-xrp-as-xrpn-trading-begins\/\"><\/p>\n<div class=\"absolute left-2 top-2\"><img alt=\"Bitcoin.com News\" loading=\"lazy\" width=\"28\" height=\"28\" decoding=\"async\" data-nimg=\"1\" class=\"size-7\" style=\"color:transparent\" srcset=\"\/_next\/image\/?url=%2Fimages%2Fuploads%2Fbitcoin_news_newlogo.svg&amp;w=32&amp;q=75 1x, \/_next\/image\/?url=%2Fimages%2Fuploads%2Fbitcoin_news_newlogo.svg&amp;w=64&amp;q=75 2x\" src=\"https:\/\/news.bitcoin.com\/_next\/image\/?url=%2Fimages%2Fuploads%2Fbitcoin_news_newlogo.svg&amp;w=64&amp;q=75\"\/><\/div>\n<p><\/a><\/div>\n<div class=\"overflow-hidden rounded-lg !bg-[#E8EDFA] p-[9px] hidden lg:flex lg:flex-row lg:gap-4\"><a aria-hidden=\"true\" tabindex=\"-1\" class=\"relative size-[150px] min-w-[150px] shrink-0 overflow-hidden rounded-[15px]\" href=\"https:\/\/news.bitcoin.com\/evernorth-hits-nasdaq-with-473-million-xrp-as-xrpn-trading-begins\/\"><img alt=\"Evernorth Hits Nasdaq With 473 Million XRP as XRPN Trading Begins\" loading=\"lazy\" decoding=\"async\" data-nimg=\"fill\" class=\"object-cover\" style=\"position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent\" sizes=\"150px\" srcset=\"\/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F10%2Fevernorth-holdings-nasdaq-150x150.jpg&amp;w=32&amp;q=75 32w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F10%2Fevernorth-holdings-nasdaq-150x150.jpg&amp;w=48&amp;q=75 48w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F10%2Fevernorth-holdings-nasdaq-150x150.jpg&amp;w=64&amp;q=75 64w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F10%2Fevernorth-holdings-nasdaq-150x150.jpg&amp;w=128&amp;q=75 128w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F10%2Fevernorth-holdings-nasdaq-150x150.jpg&amp;w=256&amp;q=75 256w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F10%2Fevernorth-holdings-nasdaq-150x150.jpg&amp;w=384&amp;q=75 384w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F10%2Fevernorth-holdings-nasdaq-150x150.jpg&amp;w=640&amp;q=75 640w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F10%2Fevernorth-holdings-nasdaq-150x150.jpg&amp;w=828&amp;q=75 828w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F10%2Fevernorth-holdings-nasdaq-150x150.jpg&amp;w=1080&amp;q=75 1080w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F10%2Fevernorth-holdings-nasdaq-150x150.jpg&amp;w=1200&amp;q=75 1200w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F10%2Fevernorth-holdings-nasdaq-150x150.jpg&amp;w=1920&amp;q=75 1920w\" src=\"https:\/\/news.bitcoin.com\/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F10%2Fevernorth-holdings-nasdaq-150x150.jpg&amp;w=1920&amp;q=75\"\/><\/p>\n<div class=\"absolute left-2 top-2\"><img alt=\"Bitcoin.com News\" loading=\"lazy\" width=\"28\" height=\"28\" decoding=\"async\" data-nimg=\"1\" class=\"size-7\" style=\"color:transparent\" srcset=\"\/_next\/image\/?url=%2Fimages%2Fuploads%2Fbitcoin_news_newlogo.svg&amp;w=32&amp;q=75 1x, \/_next\/image\/?url=%2Fimages%2Fuploads%2Fbitcoin_news_newlogo.svg&amp;w=64&amp;q=75 2x\" src=\"https:\/\/news.bitcoin.com\/_next\/image\/?url=%2Fimages%2Fuploads%2Fbitcoin_news_newlogo.svg&amp;w=64&amp;q=75\"\/><\/div>\n<p><\/a><\/p>\n<div class=\"flex min-w-0 flex-1 flex-col justify-center gap-2\">\n<p class=\"m-0 line-clamp-2 text-base leading-[1.3] !text-[#67656E]\">Evernorth began Nasdaq trading today, giving stock market investors access to a company built around an actively managed XRP treasury.\u2026<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><a href=\"https:\/\/news.bitcoin.com\/market-updates\/evernorth-coinbase-veteran-cio-xrpn-68-below-peak\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Bitcoin News ) Key Takeaways Hugo Jeandesboz joins Evernorth as CIO to put its 473M XRP to work through lending and liquidity strategies. XRPN touched $19.39 on Oct. 12 before closing at $16.91, about 68% below its Oct. 2 peak of $53. XRP slid to $1.35 on debut day, and Evernorth\u2019s [&hellip;]<\/p>\n","protected":false},"author":3947362404,"featured_media":79453,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[32],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/79452"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/3947362404"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=79452"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/79452\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/79453"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=79452"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=79452"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=79452"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}