Crypto Crusaders creator Levi Rietveld recently shared a bullish outlook on XRP with his followers, pointing to the upcoming October 8 Nasdaq listing of Evernorth—a Ripple-backed XRP treasury company trading under the ticker XRPN.
Ahead of this milestone, the enterprise’s pre-merger SPAC experienced a 273% jump last week, briefly hitting $53 and drawing the attention of Wall Street.
The Structure Behind the Story
Evernorth focuses exclusively on a single asset. It acquires XRP to use as its main reserve, with the goal of increasing its XRP holdings per share over time. Upon closing on October 7, the firm is set to possess approximately 473 million XRP, carrying a value exceeding $700 million.
Financial backing of over $1 billion has come from investors like Ripple, SBI Group, Pantera Capital, and Kraken. Rather than acting strictly as a passive holding vehicle, Evernorth plans to utilize its XRP in institutional lending, liquidity provisioning, and financial infrastructure on the XRP Ledger. Consequently, every new capital raise translates into additional XRP acquisitions from the open market.
$XRP IS ABOUT TO EXPLODE!!! pic.twitter.com/eHmXqu6NEn
— Levi | Crypto Crusaders (@LeviCryptoGuy) October 5, 2026
What Rietveld Identified
Rietveld centered his analysis on the core argument of supply and demand. He told his audience that continued fundraising and subsequent XRP purchases by Evernorth could drive significantly higher demand for the cryptocurrency.
Through XRPN, institutions seeking exposure to XRP via a regulated, publicly traded stock can bypass direct token management by simply purchasing shares. Evernorth then buys the underlying XRP to back those equities, shifting the buying pressure to the corporate level rather than the individual investor.
He added that the Nasdaq debut provides Wall Street with “another way to get massive exposure to XRP.” Given existing institutional interest, Evernorth broadens the avenues for capital to flow into the asset without requiring direct ownership of the token.
The Demand Mechanism
Asset managers, pension funds, and regulated funds frequently encounter regulatory hurdles regarding direct cryptocurrency holdings. A Nasdaq-listed treasury stock eliminates this obstacle, offering a compliant entry vehicle for sidelined capital.
Every subsequent capital raise by Evernorth leads directly to more XRP purchases. This creates a continuous demand cycle driven by corporate expansion rather than retail trading sentiment, functioning on a separate scale and timeline.
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October 8 is the Real Test
Expressing an unreserved perspective, Rietveld remarked that he “wouldn’t be surprised if XRP goes way higher than people are expecting.” The dramatic pre-listing surge of XRPN highlights heavy anticipation ahead of the debut.
Once XRPN officially commences trading as a merged entity on October 8, the market will value Evernorth according to its treasury assets, yield strategies, and ongoing fundraising capabilities. This event will serve as a definitive gauge of institutional appetite for XRP.