- Evernorth secured 261 million XRP worth around $639 million ahead of its Nasdaq merger with Armada Acquisition Corp II.
- Ripple and co-founder Chris Larsen fulfilled their commitments, contributing over 260 million XRP combined.
- XRP price rose slightly to $2.45, with growing optimism around institutional demand and upcoming treasury plans.
Evernorth Holdings Inc., a Ripple-backed digital asset treasury firm, just made a major move — securing 261 million XRP for its reserves. The company, now preparing to go public on Nasdaq through a merger with Armada Acquisition Corp II, has positioned itself as one of the largest institutional holders of XRP. The stash, worth roughly $639 million, signals growing confidence in Ripple’s ecosystem and a push to integrate XRP deeper into corporate treasury strategies.
Ripple and Chris Larsen Step In
The XRP accumulation wasn’t random — it came as part of Evernorth’s deal with Ripple and other partners like SBI Holdings, Pantera Capital, and Kraken. Ripple’s co-founder Chris Larsen followed through on his earlier pledge, contributing 50 million XRP (around $124 million). Ripple Labs also transferred two separate batches of 211 million and 319,000 XRP to fulfill its commitment. Validator Vet confirmed these transactions on X, noting that Uphold exchange also participated. With these moves, the Evernorth fund now officially holds 261 million XRP, marking a massive milestone in institutional backing for the token.
Plans for an XRP-Powered Treasury
Evernorth’s upcoming Nasdaq listing — expected to finalize in Q1 2026 pending regulatory approval — will give it access to over $1 billion in fresh capital. The company plans to build what could become the world’s largest publicly traded XRP-based treasury, focusing on accumulating, managing, and utilizing XRP for institutional-grade liquidity operations. If successful, it could pave the way for other firms to adopt similar strategies, blending traditional finance infrastructure with blockchain-based reserves.
XRP Price Reaction and Market Outlook
Following the announcement, XRP saw a mild 2% uptick, reaching $2.45 while maintaining its position as the fifth-largest cryptocurrency by market cap at around $146 billion. Though the overall crypto market remains volatile, Evernorth’s accumulation has added bullish fuel to XRP’s narrative. With investor optimism rising and on-chain data showing increased activity, analysts believe XRP could be gearing up for another leg higher — especially as institutional interest starts to scale.
