---
title: "Key facts: XRP Plummets 40%; ETF Delays Amid SEC Shutdown; Evernorth to Go Public"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/262695291.md"
description: "On October 11-12, XRP fell over 40%, its largest one-day drop in years, due to massive liquidations in the crypto market, wiping out nearly $19 billion in positions.1XRP ETFs from major issuers like Franklin Templeton are delayed due to the government shutdown affecting the SEC, despite expected approval under new regulations.2Evernorth Holdings, backed by Ripple Labs, plans to go public through a merger with Armada Acquisition Corp. II, raising over $1 billion to promote XRP adoption under the ticker XRPN.3"
datetime: "2025-10-25T00:03:13.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/262695291.md)
  - [en](https://longbridge.com/en/news/262695291.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/262695291.md)
generator: "portal-rs"
---

# Key facts: XRP Plummets 40%; ETF Delays Amid SEC Shutdown; Evernorth to Go Public

-   On October 11-12, XRP fell over 40%, its largest one-day drop in years, due to massive liquidations in the crypto market, wiping out nearly $19 billion in positions.1
-   XRP ETFs from major issuers like Franklin Templeton are delayed due to the government shutdown affecting the SEC, despite expected approval under new regulations.2
-   Evernorth Holdings, backed by Ripple Labs, plans to go public through a merger with Armada Acquisition Corp. II, raising over $1 billion to promote XRP adoption under the ticker XRPN.3

### Related Stocks

- [AACI.US](https://longbridge.com/en/quote/AACI.US.md)
- [XRPN.US](https://longbridge.com/en/quote/XRPN.US.md)

## Related News & Research

- [Armada Acquisition II FY26 Q3 net income rises to $1.63 million; interest income climbs to $2.13 million](https://longbridge.com/en/news/295778878.md)
- [Wolverine Asset Management LLC Acquires New Position in Armada Acquisition Corp. II $XRPN](https://longbridge.com/en/news/285380116.md)
- [Evernorth Advances Business Combination with Public S-4 Filing | XRPN Stock News](https://longbridge.com/en/news/279663289.md)
- [Armada Acquisition III 10-K: $0 Revenue, $(0.01) EPS and $(52,950) Net Loss](https://longbridge.com/en/news/279989694.md)

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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**