XRP Hits Wall Street: Here’s How Evernorth’s XRPN Performed on Debut

XRPN traded 1.29 million shares during its debut session, while XRP's daily volume rose 107% to about $2.17 billion in the same period. Evernorth Holdings began trading publicly on October 12 after merging with Armada Acquisition Corp. II. Its XRPN stock peaked above $19 before settling just under $17 on Nasdaq, giving investors a preview of how the market values a publicly traded company built around XRP as enthusiasm for crypto treasury stock has waned. XRPN Gives Back Its Early Gains as Trading Begins Data from Yahoo Finance shows XRPN opened at $16.68, then went up to $19.39 before falling to an intraday low of $16.39. It later finished regular trading at $16.91, up 1.38%, with volume reaching approximately 1.29 million shares. After-hours activity then lifted the stock to $17.49. Analyst Scott Melker described the debut as the first major treasury-company test since the sector’s speculative boom faded. “We really haven’t had a major treasury company launch to the public market in quite a long time,” Melker wrote. “We all know that the treasury bubble popped and massively cooled.” The company completed its business combination on October 9, clearing the way for Monday’s Nasdaq ...