What to Know
- Evernorth Holdings registered 73.7 million shares for potential resale, raising concerns about selling pressure as its stock declined nearly 48%.
- Ripple Labs, Arrington XRP Capital, and SBI Holdings feature among major shareholders, with certain investors facing six-month lock-up restrictions.
- Evernorth shares plunged 23.54% to $7.96 as trading volume reached 1.39 million shares, reflecting increased activity amid declining valuations.
Ripple-backed XRP treasury company Evernorth Holdings has suffered a major stock market decline, losing nearly 48% of its value as an SEC filing reveals the potential resale of 73.7 million shares held by major investors, including Ripple Labs.
Evernorth Registers 73.7 Million Shares Amid Stock Market Decline
According to a November 9 SEC filing, Evernorth registered 73,688,162 Class A shares for potential resale by existing shareholders. The disclosure follows the company’s Nasdaq debut under the XRPN ticker on October 12, following its merger with Armada Acquisition Corp. II.
Also Read: Bitcoin Core Reveals Three Security Flaws That Threatened Mining and Node Operations
Evernorth shares closed at $7.96 on November 10, representing a substantial decline from their October 28 closing price of $15.26. The registration introduces potential future selling pressure, although it does not confirm that shareholders have executed transactions.
Ripple and Major XRP Investors Register Millions of Evernorth Shares
The SEC prospectus identifies several cryptocurrency investors whose holdings account for substantial portions of the registered securities. Arrington XRP Capital Fund holds the largest allocation, with approximately 33.82 million shares registered for potential resale.
Ripple Labs follows with 18.14 million shares, while entities affiliated with SBI Holdings account for another 11.79 million. Additionally, the Larsen Lam Children’s Remainder Trust, associated with Ripple co-founder Chris Larsen, registered approximately 7.15 million shares.
We're back on X.
— 36Crypto (@36Crypto1) August 21, 2026
Our previous account (36crypto2) is currently unavailable while we continue working through the appeal process. In the meantime, this is our new official account. While you are on this page, please support us by sharing and following.
Other investors include Pantera Capital, GSR Markets Switzerland, and Kraken’s parent company, Payward. Despite the registration, Ripple and certain other shareholders remain subject to six-month lock-up agreements established during the October 9 merger, which generally expire on April 9, 2027, with certain exceptions.
Evernorth Stock Declines as Trading Volume Surges
Evernorth shares dropped 23.54% on November 10, falling from $10.41 to $7.96 as trading activity increased considerably. Approximately 1.39 million shares changed hands during the session, compared with 369,000 shares recorded on November 9.
Meanwhile, the stock has declined nearly 59% from its debut-day high of $19.39, reflecting substantial losses since listing. Significantly, approximately 19.1 million registered securities already exist as issued Class A shares, while others involve potential future issuance.
Evernorth will receive no proceeds from shareholder resales, although separate cash warrant exercises could generate additional company funds. Overall, Evernorth’s declining valuation and substantial resale registration highlight selling pressure surrounding the XRP treasury company’s publicly traded shares.
