[DigitalToday reporter Choo Hyun-woo (추현우)] Evernos shares will begin trading on Nasdaq on the 8th under the ticker XRPN. Blockchain outlet U.Today reported on the 3rd (local time) that Evernos is presenting itself not as a simple passive ETF but as a treasury structure that directly manages assets in the Ripple and XRP Ledger ecosystem.

Evernos holds 473 million XRP on its balance sheet. It is the largest amount of XRP legally held among publicly listed companies worldwide. More than $1 billion flowed in through a merger with SPAC Armada II approved by shareholders on Sept. 30, and Ripple, SBI Group, Pantera Capital and Kraken exchange participated as core investors.

Evernos plans to deploy the holdings, rather than lock them up, into XRP Ledger DeFi protocols and arbitrage. The goal is to keep increasing the net XRP held per XRPN share. Analysts say that if this structure works, circulating supply in the spot market could shrink and, if current demand holds, it could be a key ingredient for XRP to move toward $2.

Attention is also on chart action around the listing. XRP is moving sideways around $1.50 on a weekly basis, and moving averages are forming support in the $1.26 to $1.45 range. On the daily chart, it is pressing the upper Bollinger band around $1.63.

Seasonality is also supportive. October 2026 started with a 0.93 percent rise as of the beginning of the month, and August and September rose 30 percent and 7.95 percent, respectively. Historically, the fourth quarter is seen as a strong period for XRP. The average return in November is 80.2 percent and in December 63.1 percent.

There are also variables. Early in XRPN trading, a buy-the-rumour sell-the-news pattern could emerge, raising volatility alongside short-term profit-taking. A Nasdaq listing could also increase correlation with U.S. equities, meaning that if major U.S. indexes undergo a correction, XRPN performance could slow even if the crypto market remains stable.

The listing was presented as a channel that reduces legal risk when U.S. money seeks access to XRP. Wall Street viewed it as a way to expand new exposure to altcoins and speed up the pace of XRP price re-rating.