[Ripple-backed XRP vault entity Evernorth prepares for IPO, CEO says 'Timing couldn't be better'] According to Golden Finance, Ripple-backed XRP vault entity Evernorth is preparing to go public on Nasdaq through a SPAC merger, with the trading code XRPN. The company holds 388 million XRP tokens, currently valued at approximately $812 million. CEO Asheesh Birla stated: 'The timing couldn't be more perfect. We have the right regulatory environment, government support, and institutions ready to adopt.' Despite the recent sharp decline in valuations of crypto reserve companies, with many ceasing to purchase cryptocurrencies, Birla emphasized that Evernorth not only provides XRP exposure but also handles custody, compliance, and security obligations.