Ripple (XRP) has recovered the $1.50 level, and market attention is expanding beyond short-term price movements to institutional investment and the real-world asset (RWA) tokenization ecosystem.

According to the virtual asset market on the 7th, XRP has recently been trading around $1.50. Based on CoinMarketCap data, XRP's dollar-denominated price on the 6th was tallied at approximately $1.50.

On the 2nd, volatility widened, pushing the price down to around $1.45 during the session, but the decline was later recovered. According to Investing.com, XRP fell to $1.4507 intraday on the 2nd before closing at $1.4847, and rebounded to the $1.52 level on the 4th, continuing a trend of searching for direction around the $1.50 mark.

Evernorth to Begin Trading on Nasdaq as 'XRPN' on October 8

In the market, Evernorth's business combination schedule is being cited as a key variable alongside short-term price movements.

The business combination between Evernorth and special purpose acquisition company (SPAC) Armada Acquisition Corporation II was approved at an extraordinary general shareholders' meeting held on September 30. According to the company's announcement, the transaction is expected to be completed on October 7, subject to the fulfillment of remaining closing conditions, and the combined entity's Class A common stock is expected to begin trading on Nasdaq under the ticker 'XRPN' from October 8.

If the transaction is completed as scheduled, Evernorth is expected to hold approximately 473 million XRP. Based on this, the company expects to become the largest among listed companies pursuing a digital asset treasury strategy focused on XRP.

The investor list includes Ripple, Pantera Capital, Kraken, SBI Group, GSR, and Arrington Capital, among others. The expected cash proceeds related to the business combination amount to approximately $300 million, with a separate in-kind contribution of XRP also reported.

XRPL Surpasses Ethereum in Tokenization Inflows

Another trend surrounding XRP is the expansion of real-world asset tokenization on the XRP Ledger (XRPL).

According to U.Today, XRPL recorded capital inflows surpassing Ethereum in the tokenized products sector. Based on 2026 data from Token Terminal and the RWA Foundation, net inflows into XRPL-based tokenized products since the beginning of the year amounted to approximately $2.2 billion, ahead of Ethereum (approximately $1.6 billion) over the same period.

The gap with later-entrant networks was even larger. Avalanche recorded approximately $334.5 million and BNB Chain approximately $57.5 million, showing capital relatively concentrated in XRPL and Ethereum.

While XRPL has been known primarily for fast payments and cross-border remittances, its scope of use has recently been expanding into the issuance of tokenized assets and institutional digital asset infrastructure. In particular, as the RWA market, which represents physical goods and financial assets on the blockchain, expands, attention is turning to whether the XRPL ecosystem can secure a new axis of growth.

Price, Corporate Events, and RWA Growth Need to Be Distinguished as Separate Variables

However, it is necessary to distinguish XRP's price, corporate events, and RWA ecosystem growth as separate variables. Even if Evernorth's Nasdaq trading debut proceeds as scheduled, it is difficult to conclude that XRP's spot price will move in the same direction. In addition, RWA-related figures may vary depending on the data provider and reference point.

Currently, the market is focused on: △whether XRP can settle at the $1.50 level; △the completion of the Evernorth merger and the start of Nasdaq trading; and △whether the expansion of XRPL-based real-world asset tokenization leads to actual growth in network usage.

[Virtual assets are high-risk assets with very high price volatility. Prices and market data included in the article may vary depending on the time of compilation and the exchange, and future price movements are not guaranteed. This content is provided for informational purposes only and does not constitute investment advice; investment decisions and responsibility rest with the investor. This article was written with the assistance of AI.]