XRP has a well-documented habit of declining on good news. On September 30, the trend repeated. The Evernorth shareholder vote passed, clearing the final major hurdle for the company’s planned Nasdaq listing under the ticker XRPN. XRP fell anyway.
XRP currently trades at $1.48, down almost 1% from yesterday. Attorney and XRP advocate Bill Morgan noted this trend in a post on X, writing: “Evernorth vote passed. $XRP price fell. Sounds like a normal day for XRP.”
Evernorth vote passed $XRP price fell.
Sounds like a normal day for XRP— bill morgan (@Belisarius2020) September 30, 2026
The Evernorth Vote
Evernorth intends to merge with Armada Acquisition Corp. II to create a publicly traded digital asset treasury that actively manages XRP holdings to grow per-share value over time. The September 30 vote was the last major condition standing between the company and its Nasdaq debut.
The company has more than $1 billion in committed capital. Backers include Ripple, Arrington Capital, SBI Group, Panther Capital, Kraken, and GSR. The vote is significant for XRP’s institutional trajectory.
A publicly traded XRP treasury on Nasdaq gives investors direct equity exposure through regulated public markets. That is meaningful. However, the voting day price action told a different story.
XRP’s Recurring Price Disconnect
This pattern is not new. In August, Jeonbuk Bank became the first regional bank in South Korea to deploy Ripple Payments for cross-border remittances. XRP fell below $1 around the same time. Prominent crypto investor Crypto Bitlord expressed frustration with the asset’s decline, stating, “I’m slowly starting to hate this coin.”
The sentiment resonated widely, with many longtime holders frustrated that positive institutional developments consistently fail to move the price upward.
Responses From the Community
Responses to Morgan’s post reflected a range of perspectives. One commenter offered a classic trading adage, advising holders to buy the rumor and sell the news, suggesting the price reaction was predictable. Another pointed to market structure, arguing that free markets are an illusion. He said what XRP holders are witnessing is deliberate manipulation.
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One community member stayed optimistic, insisting that XRP supporters will ultimately have the last laugh. Another urged holders to take the long view, arguing that the wave of institutional adoption becoming reality is what matters, and that short-term price swings are a distraction.
A Pattern That Keeps Repeating
The Evernorth vote passing is objectively a positive development for XRP. A publicly listed treasury with 473 million XRP, backed by major institutional names, heading to Nasdaq is a big win for XRP. The frustration comes from watching real progress fail to register in price terms.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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