🚨 This XRP-linked SPAC is up 273% in a WEEK — and the merger closes TODAY.
Armada Acquisition Corp. II (XRPN), the shell taking XRP treasury firm Evernorth public, closed Friday at $39.42 — it briefly touched $53, up from $10.58 a week earlier. The merger is expected to close today, Oct 7, putting about 473 million XRP, worth roughly $714 million, on Nasdaq.
The catch: about 80% of the SPAC trust cash is being returned to shareholders. That leaves a tiny float — so even small orders can swing the price hard in either direction.
And Evernorth's own XRP is already underwater: the $214.1 million of XRP it bought last year is now worth about $127 million. Recent crypto treasury debuts have ended badly too — ProCap BTC is down more than 60% since its merger.
A new XRP giant is born today — or the squeeze of the year is about to unwind. Which one is it? 👀
$XRP
#XRP #CryptoNews #Evernorth
Armada Acquisition Corp. II (XRPN), the shell taking XRP treasury firm Evernorth public, closed Friday at $39.42 — it briefly touched $53, up from $10.58 a week earlier. The merger is expected to close today, Oct 7, putting about 473 million XRP, worth roughly $714 million, on Nasdaq.
The catch: about 80% of the SPAC trust cash is being returned to shareholders. That leaves a tiny float — so even small orders can swing the price hard in either direction.
And Evernorth's own XRP is already underwater: the $214.1 million of XRP it bought last year is now worth about $127 million. Recent crypto treasury debuts have ended badly too — ProCap BTC is down more than 60% since its merger.
A new XRP giant is born today — or the squeeze of the year is about to unwind. Which one is it? 👀
$XRP
#XRP #CryptoNews #Evernorth
