 
 
Ripple-backed digital asset firm Evernorth Holdings acquired a large stack of XRP. The large purchases swung market sentiments upward amid new whale inflows to the asset. This year, corporate crypto treasuries have increased their holdings as more firms seek to diversify their balance sheets.
Institutional Investors Raise XRP Holdings
On-chain data shows Evernorth Holdings accumulated more than 388.7 million XRP worth over $1 billion after flagging up its crypto treasury. This marks a significant milestone for the company, which launched on Oct 20. Evernorth is considering listing the publicly traded XRP company on Nasdaq, much to the delight of the community.
Asheesh Birla, Evernorth CEO, has pledged more collaborations with the asset, including deals with Rippleworks and the SBI Group. Birla stepped down from Ripple to take charge of Evernorth, thereby strengthening the connection between the two entities. Plans are also underway to finalize a merger with Armada Acquisition Corp. II. The company is also set to raise about $1 billion for crypto purchases.
“We’re backed by a world-class group of investors and leaders, including SBI, Ripple, Arrington Capital, Pantera Capital, and Kraken firms that share our conviction in XRP’s future. For the first time, XRP has clear regulatory standing in the United States, opening the door for large-scale adoption,” Birla added.
He described the company as a trusted and transparent bridge to public markets at a time when institutional demand for cryptocurrency is surging. Previously, XRP faced negative pressure following the lawsuits filed by the United States Securities and Exchange Commission (SEC) alleging the sale of unregistered securities.
 
President Trump’s second term altered the entire dynamic with a pro-crypto approach. This signaled the bulls to ramp up investment as authorities ushered in clear rules. Top assets, such as Bitcoin (BTC), Ethereum (ETH), and XRP, recorded significant growth within a matter of months. Notably, XRP temporarily surpassed USDT as the third-largest cryptocurrency by market capitalization.
At the time of writing, XRP is trading at $2.63, up 10% within the week. The wider market remained sideways, with traders more cautious after the flash dip, which wiped out previous gains. Evernorth’s investment fueled short-term traders, who were also influenced by previous analysts’ expectations of a price gain. XRP-based treasury firms are also building momentum for the asset through the influx of traditional capital. Last week, institutional investments in XRP funds topped $84 million.