XRP Treasury Evernorth Shares Rise 5% at Nasdaq Opening Print

Shares of XRP focused treasury company Evernorth Holdings jumped as much as 4.9% on their Monday Nasdaq debut under the ticker XRPN.

Earlier in the day, the company named Hugo Jeandesboz, former co chief investment officer at a major crypto asset management unit, as its new chief investment officer. He will lead treasury strategy, including allocation, liquidity management and active management of Evernorth’s XRP holdings.

DeFi Yield Strategies to Boost Income

Evernorth deploys its XRP holdings to earn extra income through decentralized finance yield strategies.

On October 2, shareholders of blank check firm Armada Acquisition Corp. II approved the merger plan with Evernorth. The combined company expects to hold about 473 million XRP, currently worth $657 million, which it said would make it the largest publicly traded XRP treasury company.

XRP Holds $1.39 With $87.8 Billion Market Cap

The XRP token recently traded at $1.39 with $1.48 billion worth changing hands in 24 hours. At that level, XRP carries a market cap of roughly $87.8 billion.