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XRP Slips 2% as Evernorth Navigates Nasdaq Listing
XRP, the ticker symbol for Ripple's cryptocurrency, fell 2% on Monday following Evernorth's Nasdaq listing as XRPN. The listing, which began on Monday, included about 473 million XRP and $300 million in gross cash. Most of the XRP came from Ripple and the deal's backers, with about 84 million XRP bought in November 2025 at $2.54 each. The listing did not bring in new buy orders for XRP, as it was a stock tied to coins Evernorth already held. Evernorth, the company behind the listing, plans to use the XRP and cash to run yield strategies and provide liquidity. The company's shares began trading on Nasdaq on Monday, with XRPN, and XRP's price at $1.377, down 1.9% over 24 hours and 7.9% over seven days. XRP has fallen about 8% in a week, more than Bitcoin, though it is still up about 25% over 90 days. The article notes that XRP futures open interest edged lower over 24 hours, with most of the day's liquidations hitting long positions, potentially signaling a price gathering spot liquidity.