Evernorth Boosts Holdings with 261 Million Ripple-Backed XRP Tokens

Key Points

• Evernorth Holdings Inc., a Ripple-backed digital asset treasury firm, now holds roughly 261 million XRP.
• Evernorth plans to go public on the Nasdaq stock exchange through a merger with a Special-purpose Acquisition Company (SPAC).

Evernorth Holdings Inc., a digital asset treasury firm supported by Ripple, has amassed a substantial amount of XRP, joining other companies like VivoPower International, Trident Digital Tech Holdings, and Webus.

The firm reportedly holds approximately 261 million XRP, valued at $639.45 million based on the coin’s current price.

Evernorth’s Public Listing and Ripple’s Commitment

On October 20, Evernorth indicated its intention to go public on the Nasdaq stock exchange through a merger with a Special-purpose Acquisition Company (SPAC) named Armada Acquisition Corp II (ticker: AACI).

As part of this deal, Evernorth plans to raise over $1 billion in gross proceeds from a variety of investors, including SBI Holdings, Pantera Capital, Ripple Labs, GSR, and Kraken.

Recently, an XRP Ledger dUNL Validator known as Vet confirmed that Evernorth now owns 261 million XRP, suggesting that some partners have fulfilled their commitment.

Chris Larsen, co-founder and Executive Chairman of Ripple, had pledged to invest 50 million XRP tokens, equivalent to $124.5 million, into the Evernorth deal. The net proceeds are allocated for open-market purchases of XRP.

Vet noted that Larsen has fulfilled his contribution, while Ripple sent 211 million and 319,000 XRP in two transactions. The Uphold exchange is another entity that has completed its contribution to the deal.

The fundraiser is slated to close in Q1 2026, pending regulatory and shareholder approvals. With the capital secured, Evernorth plans to establish an XRP-based treasury.

XRP’s Market Position and Price

In general, XRP has gained popularity among investors and traders. It currently ranks as the fifth-largest cryptocurrency by market cap, valued around $146.61 billion at the time of writing.

Its price has risen 2.07% in the last 24 hours to $2.45. This is noteworthy, considering the broader cryptocurrency market’s current volatility.

The news of Evernorth’s investment may have helped boost XRP’s price, and further increases are anticipated. Both on-chain data and market sentiment suggest a potential XRP turnaround may be imminent.