XRP to $2? Analyzing How Nasdaq Listing Could Impact Token Price

Chainalysis attributed the $387 million Bitget hack to North Korean actors, bringing their 2026 crypto thefts to over $1 billion. Hackers converted stolen XRP to Bitcoin using cross-chain swaps. Bitget's CEO had previously cited IP evidence linking the attack to DPRK. The hack ranks as the largest in 2026, increasing September losses by 462%. Chainalysis used AI to trace the funds quickly.

Ripple's Swell 2026 conference will discuss spot XRP ETFs as a core institutional topic. XRP ETFs have seen $1.7B in inflows by mid-September, according to Coinpaper. The SEC recently approved a post-effective amendment for the Bitwise XRP ETF. The event will combine Swell with Apex and UBRI Connect, featuring speakers from traditional finance firms.

Evernorth's 473M XRP token debut on Nasdaq as XRPN is set for October 8, 2026. Analysts note institutional validation but cautious on immediate retail demand. XRP trades near $1.48, with resistance at $1.57 and support at $1.48. Evernorth's structure is a corporate treasury vehicle, similar to MicroStrategy's Bitcoin approach, with plans for active XRP deployment.

XRP trades at $1.48, down 3% in 24 hours, amid leveraged traders unwinding positions and increased sell-side liquidity. Analysts cite institutional progress, including Evernorth's Nasdaq debut on October 8, as bullish for XRP. The Bitwise XRP ETF received an SEC review notice, removing a regulatory obstacle. Technical indicators suggest short-term bearish pressure, with key support at $1.48–$1.50.

Evernorth's merger with Armada Acquisition Corp. II was approved by shareholders, paving the way for a Nasdaq listing under the ticker XRPN. The deal is expected to close on October 7, with Evernorth holding 473 million XRP, valued at approximately $710 million. The transaction raised about $300 million in gross cash proceeds.

Evernorth Holdings cleared a shareholder vote for its Nasdaq listing, backed by Armada Acquisition Corp. II shareholders. The deal, expected to close on October 7, 2026, will see Evernorth trade under ticker XRPN, with $300M in gross proceeds and 473M XRP held. Investors include Ripple, Pantera Capital, and Kraken. The company aims to operate as a digital asset treasury focused on XRP.