Evernorth’s XRPN exposes investors to just 5.9 XRP per share, study finds

The valuation of Evernorth’s XRPN stock has come under scrutiny as new analysis suggests each share provides exposure to a significantly smaller amount of XRP than some investors previously believed, while trading at nearly double the value of its underlying holdings. Evernorth, a financial company focused on digital asset treasuries, holds around 473 million XRP in its corporate reserves. XRPN, the company’s security listed on Nasdaq, enables investors to gain exposure to these holdings through publicly traded shares.