XRP Climbs Toward $1.51 Following Armada-Evernorth Merger Approval

The vote, which was publicized by XRPL collaborator Bear Champ following his attendance at the shareholder meeting, triggered a positive price reaction in the market. XRP, which had dipped below $1.47 earlier in the session, climbed back to trade near $1.51. This move reflects investor optimism regarding the path forward for the proposed public company, which intends to trade under the ticker XRPN once all closing conditions are met.

Evernorth’s registration materials indicate that the combined entity expects to hold at least 473.3 million XRP in its treasury at the time of closing. This figure represents a combination of previous token purchases and commitments from participants in the deal. The merger is also tied to a $30 million convertible senior note financing agreement with NH Investment & Securities Co., which is set to finalize concurrently with the business combination. While the SEC declared the company's Form S-4 registration effective in late August, the firm continues to navigate remaining listing requirements and final closing adjustments.