XRP was trading around $1.46, down more than 2% over 24 hours, as attention turned to Evernorth’s delayed Nasdaq debut. Evernorth and Armada Acquisition Corp. II had been expected to complete their merger on October 7, with the combined company targeting Nasdaq trading as XRPN on October 8, subject to listing approval.
In an update posted on X, Evernorth said an administrative delay should not affect closing, but pushed the expected timeline back: close on Friday, October 9, and XRPN trading on Monday, October 12, subject to customary closing conditions and Nasdaq listing requirements. At closing, Evernorth is expected to hold 473 million XRP and receive about $300 million in gross cash proceeds. The treasury was recently valued at nearly $714 million when XRP traded near $1.51, while Armada shares had climbed roughly 273% in the prior week.
Technically, the article framed the listing as an access story rather than a guaranteed floor. Support was seen at $1.46–$1.48, with resistance clustered at $1.54–$1.56 and the September high near $1.65. October 7 pivot data placed the classic pivot near $1.485, with nearby support down to about $1.454. If XRP holds $1.46 and reclaims $1.56, traders could watch $1.65 and then $1.70, a level cited by Peter Brandt as a potential cup-and-handle breakout point, not a guaranteed target. A sustained break below $1.46 would weaken that setup and expose lower support.
The report cautioned that the 273% run in the acquisition vehicle raises the risk of a “buy the news” reaction. For now, the Evernorth treasury approval and closing details remain a catalyst, but not a price floor.
