Bitcoin Had Strategy and Now XRP Has Evernorth Filing $1B for Nasdaq
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- Evernorth just filed to bring a $1B XRP treasury company to Nasdaq under ticker XRPN
- Goldman Sachs is already the largest institutional XRP holder at $153.8M
- XRP broke a key level but three EMAs still stand between here and a bull run
Evernorth’s XRP Nasdaq filling is the story that just changed the institutional playbook for XRP. On March 18, 2026, Evernorth Holdings filed its Form S-4 with the SEC to become the largest publicly traded XRP treasury company on Nasdaq under ticker XRPN. The filing is structured as a business combination with Armada Acquisition Corp. II, a SPAC sponsored by Arrington Capital, with over $1 billion in gross proceeds raised. Ripple, Pantera Capital, SBI Holdings, and Kraken are also among the backers. This is the Goldman Sachs XRP ETF week, the XRP commodity week, and now the Evernorth week, all at once.
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Goldman Sachs Holds $154M in XRP ETFs as Evernorth Files to Go Public
Evernorth’s XRP Treasury Model and What Makes It Different
Evernorth’s XRP Nasdaq application is not an ETF play. Unlike a spot fund that just tracks price, this XRP treasury company is designed to actively manage its XRP holdings as a balance sheet asset within a traditional corporate structure, with full SEC accountability. The investor lineup behind it, Ripple, SBI Holdings, Pantera Capital, Kraken, and Arrington Capital, signals that this is not a speculative vehicle. It’s infrastructure.
The Evernorth company stated:
“Evernorth is a newly formed Nevada corporation that will enable adoption of XRP on an institutional scale.”
Goldman Sachs XRP ETF Holdings Cement Institutional Conviction
Goldman Sachs holds $153.8 million across four spot XRP ETFs as of its Q4 2025 13F filing, spread across Bitwise, Franklin Templeton, Grayscale, and 21Shares. The bank initiated the entire position within weeks of the first XRP ETFs launching in November 2025, making it the largest single institutional XRP holder in the U.S. by a wide margin. The next closest, Millennium Management, sits at $23 million.
Bloomberg Intelligence analyst James Seyffart had this to say:
“The top 30 holders of spot XRP ETFs controlled roughly $211 million by end of 2025. Goldman accounts for the lion’s share of that.”
Goldman’s Q1 2026 13F is due in May. That filing will show whether the bank held through XRP’s 40% decline or exited the position.
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XRP Price Prediction 2026: Where the Chart Stands Right Now
XRP broke above the $1.50 Adam and Eve neckline on March 16, recording its highest daily close in over 30 days. Three EMAs now stand between XRP and a confirmed bullish reversal: the 10 EMA at $1.56, the 20 EMA at $1.80, and the 50 EMA at $2.00.
Chart Nerd, a well-known market analyst, stated:
“The most important thing in the short term is whether XRP can hold $1.5 as support and push toward $1.8.”
Hold $1.50 and the path opens to $1.61, $1.90, then $2.20. Lose it and price slides toward $1.30 and $1.12. The SEC’s formal classification of XRP as a digital commodity this same week is also being flagged as a short-term catalyst for the XRP price prediction 2026 setup.
The Evernorth’s XRP Nasdaq filing, the Goldman Sachs XRP ETF position, and XRP’s commodity status all landed in the same week. The XRPN stock Nasdaq listing, once approved, would give both retail and institutional investors a publicly traded vehicle to hold XRP exposure through a regulated corporate structure, something that has never existed for XRP until now.
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