Evernorth Holdings, the XRP digital asset treasury firm whose shareholders include Ripple Labs, Arrington XRP Capital, and SBI Holdings, closed at a record low of $11.70 on Monday evening, according to Protos.
That close leaves the stock down 44% from its first-day high of $21 on October 9. Against the company’s pre-merger peak of $53, listed on the Evernorth investor relations page, the drop reaches 78%.
Stock traded back above $12 after the low close
Protos said the price recovered slightly after the prior close, with shares mostly trading above $12.
Evernorth is an XRP treasury company with shareholders that include Ripple Labs, Arrington XRP Capital, and SBI Holdings.
Chris Larsen’s exposure runs through Ripple and a trust
Protos reported that Ripple co-founder Chris Larsen has exposure to Evernorth Holdings through his controlling shareholder role at Ripple Labs and through the Larsen Lam Children s Remainder Trust.
The report also said RippleWorks, the nonprofit cofounded by Larsen, is the majority owner of the Arrington XRP Capital Fund.
Evernorth holds about 473 million XRP
The company holds approximately 473 million XRP.
Equity facility could raise about $80 million
On October 26, Evernorth said it had entered into a common stock purchase agreement with CF Principal Investments LLC to establish a committed equity facility for up to 5,218,935 shares of Class A common stock.
The company also said that, assuming the closing stock price of XRPN on October 22, 2026, full execution of the facility would generate aggregate gross proceeds of about $80 million.
If used, the facility is intended to support the acquisition of XRP and product development in the XRP ecosystem.
