XRP traded around USD 1.5086 after recovering from a drop below USD 1.47 on September 30. The rebound came as Ripple and CSD BR moved an XRP Ledger project into a live market environment.
At the same time, a reported shareholder vote approved Evernorth’s merger with Armada Acquisition Corp. II. The vote advanced the Ripple-backed company’s planned NASDAQ listing under the proposed XRPN ticker.
XRP gained about 1.89% as news of the vote circulated. The token also remained above its key short-, medium-, and long-term moving averages, reflecting ongoing market momentum.
Ripple and Brazilian financial infrastructure company CSD BR have moved their blockchain project beyond testing. The first phase now mirrors selected BTG Pactual investment fund ownership records on the public XRP Ledger.
CSD BR operates as a registrar, central securities depository, and settlement provider. It oversees more than BRL 22 trillion, or around USD 4 trillion, in registered assets across its infrastructure.
That total does not represent assets moving onto XRPL. The initial stage only covers selected BTG Pactual fund shares, while CSD BR keeps its existing systems as the official ownership record.
The project converts eligible fund shares already held at CSD BR into tokens through the XRP Ledger’s Multi-Purpose Token standard. Authorized participants can then compare blockchain records with CSD BR’s official database.
As a result, XRPL works as a secondary record-keeping and auditing layer. Participants can check records more quickly without replacing the systems governing ownership, custody, and settlement.
The live deployment keeps regulated controls inside CSD BR’s existing framework. Approved corporate and banking clients must complete know-your-customer and anti-money-laundering checks before taking part.
CSD BR also retains authority over the assets and participants. The company can freeze assets or reverse transactions when regulators or courts require those actions.
Therefore, the blockchain does not replace Brazil’s existing financial market infrastructure. Instead, XRP Ledger records provide an additional source that authorized parties can review and audit.
Ripple and CSD BR plan to consider a broader second stage if the record-mirroring phase performs as intended. That later work could examine issuing and trading assets directly on XRPL. For now, the project remains limited in scope. BTG Pactual fund shares form the first use case, while CSD BR’s systems remain the official source for registration and settlement records.
The arrangement places public blockchain technology inside an existing regulated workflow while keeping legal control and official recordkeeping with the Brazilian financial infrastructure provider.
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XRP’s latest recovery also followed reports that Armada Acquisition Corp. II shareholders approved the merger with Evernorth. The result came from Bear Champ, an XRPL collaborator who said he listened to the shareholder meeting.
“Listened in on the Armada/Evernorth merger vote, it passed,” Bear Champ wrote on X.
Under Evernorth’s disclosed transaction terms, shareholder approval allows the proposed combination to continue toward closing. The company expects NASDAQ trading under XRPN once remaining closing and listing conditions are satisfied.
XRP rose toward USD 1.55 earlier on September 30 before pulling back. It then traded mainly between USD 1.48 and USD 1.50 for several hours before buyers pushed the price higher. Another midday move took XRP to around USD 1.54. The token later slipped toward USD 1.50 before recovering again after falling below USD 1.47.
By the latest update, XRP traded near USD 1.51. The price action placed the rebound alongside the reported merger approval while also showing repeated gains and pullbacks during the same session.
XRP recovered above USD 1.50 as Ripple and CSD BR moved their regulated XRPL project into live operations. Meanwhile, Evernorth’s reported merger approval advanced its proposed NASDAQ listing. The Brazilian project remains limited to record mirroring while CSD BR retains official control over ownership and settlement.