Ripple-Backed Treasury Lines Up $30M: Can XRP Reach $3 in 2026?

Ripple-backed XRP treasury company Evernorth Holdings has lined up $30 million in new financing as it prepares to go public through a merger with Armada Acquisition Corp. II (NASDAQ: XRPN ). The deal would bring Evernorth onto Nasdaq under the XRPN ticker, giving public-market investors exposure to a company built around accumulating XRP (CRYPTO: XRP) and deploying it across the XRP ecosystem. Evernorth said the new financing may be used to buy more XRP and fund other ecosystem investments.

The $30 million arrives when the merger closes, which the company expects in the fourth quarter. 1 million XRP at the end of 2025. 7 million XRP, or less than 5% of that existing position. 20 After One Year Evernorth disclosed Thursday that the financing consists of $30 million of 4% convertible notes due in 2031, purchased by NH Investment & Securities as trustee for a South Korean investment fund.

20 per share. Armada shareholders are scheduled to vote on the merger Sept. 30. 36 price used when the deal was signed.

The revised structure adjusts the share count at closing based on XRP’s value, which Evernorth said should give each share a larger interest in the treasury if the token remains below that original price. 54 per token. Traders See $1 as More Likely Than $3 Polymarket traders give XRP a 31% chance of falling to $1 again this year, against 6% for a touch of $3. 38, a move to $1 would represent a decline of roughly 28%, while reaching $3 would require a gain of about 117%.

4 million-token cash purchase. The next major catalyst comes Sept. 30, when Armada shareholders vote on the Evernorth merger. Approval would clear a key hurdle toward the XRPN listing and release the new financing.

6 Trillion Financing Bill