Nasdaq-Listed XRP Treasury Evernorth Falls Nearly 50% in a Month

Ripple-backed Evernorth, an XRP treasury company listed on Nasdaq, has fallen nearly 47% since its October 12 debut, from a high of $19.39 to a record-low $10.05 on November 5. A preliminary S-1 registers 73.7 million Class A shares for resale by 21 holders—nearly three times the outstanding Class A stock—according to BeInCrypto, including Ripple Labs, Arrington XRP Capital Fund and four SBI-affiliated entities. The filing does not confirm that anyone has sold or plans to sell, and Evernorth would receive no resale proceeds. Lock-ups for Ripple, the Arrington sponsor and a Larsen-linked entity generally expire on April 9, 2027.