- Evernorth’s post-merger Nasdaq trading is scheduled to begin Oct. 12 under XRPN.
- The company plans to deploy capital across the XRP ecosystem and grow its holdings per share.
- Analyst Gert van Lagen’s separate $50 scenario would imply a valuation of XRP in the trillions of dollars.
Evernorth’s move onto Nasdaq gives XRP another route into institutional portfolios, as a bullish analyst forecast puts a long-term $50 price scenario back in focus.
The company completed its merger with Armada Acquisition Corp. II on Oct. 9, with trading in the combined company scheduled to begin today under XRPN.
Its arrival creates a public-market vehicle designed to accumulate XRP and deploy capital across its ecosystem.
However, whether that translates into sustained demand for tokens will depend on how Evernorth uses its treasury.
Evernorth’s 473M XRP Treasury Enters Public Markets
Evernorth said it held approximately 473 million XRP at closing and had raised approximately $300 million in gross cash proceeds, before transaction expenses.
Its investors include Arrington Capital, SBI Group, Ripple, Pantera Capital, Kraken and GSR, bringing together established major digital-asset firms.
The company plans to support XRP-related infrastructure and pursue institutional and decentralized finance strategies intended to increase XRP per share.
“We’ll be deploying capital across the XRP economy,” founder and CEO Asheesh Birla said in the company’s closing announcement.
For investors, the institutional significance extends beyond the treasury’s size.
A listed company gives a way to gain exposure to an XRP-focused business through brokerage accounts, without directly managing tokens.
Can Evernorth Bring Strategy’s Treasury Model to XRP?
Evernorth’s emphasis on increasing XRP per share invites comparison with Strategy’s Bitcoin approach.
Strategy uses capital markets to fund Bitcoin purchases and tracks changes in its holdings relative to its share base.
Evernorth’s stated plans include institutional and DeFi yield strategies, as well as capital markets activities.
These are intended to grow XRP per share over time, rather than simply maintain a fixed pool of tokens.
Execution will determine whether that ambition can benefit shareholders.
Analyst’s $50 XRP Scenario Adds a Bullish Price Hook
Separately, analyst Gert van Lagen outlined a bullish scenario in an Oct. 6 X post, using a symmetrical triangle on the monthly chart to project a potential move toward $50.
He called the scenario “normal bull market dynamics for Ripple,” although reaching that target depends on the token clearing resistance around $2.10 and maintaining the breakout.
Van Lagen also drew on XRP’s strong performance against Bitcoin in 2017.
His comparison pairs a potential XRP/BTC ratio of 0.00011 with a hypothetical $450,000 Bitcoin price.
Together, those assumptions would value XRP at approximately $49.50.
Why $50 XRP Remains an Extreme Scenario
A $50 XRP price would require a dramatic expansion in its valuation, making the target a highly speculative scenario.
With approximately 63.13 billion tokens circulating, reaching $50 would imply a market capitalization of roughly $3.16 trillion.
That would put the token above several of the world’s largest companies, based on their market values at the time of reporting:
| Company |
Approximate market capitalization |
| Amazon |
$2.83 trillion |
| Meta |
$1.83 trillion |
| Tesla |
$1.51 trillion |
| Berkshire Hathaway |
$1.08 trillion |
| JPMorgan Chase |
$885 billion |
A $3.16 trillion valuation would exceed Amazon’s and approach the combined value of Meta and Tesla.
Using $1.40 as a starting price, the token would need to rise 3,471%, multiplying its price almost 36 times, to reach $50.
