XRP News Today: Evernorth’s Approach to Reinvesting XRP Builds $1B Treasury, Enhancing Trust Among Institutions

Evernorth Holdings, a digital asset company supported by Ripple, has achieved a significant breakthrough as its

reserves have exceeded $1 billion in value, driving the token’s price upward and reflecting increasing institutional trust in the asset. The firm currently possesses 388.7 million XRP tokens, worth more than $1 billion, based on figures from XRPScan and CryptoQuant, as detailed in a . This swift accumulation follows several major transfers from Ripple, including a 530 million XRP deposit on October 23, as well as personal contributions from Ripple leaders such as Chris Larsen, who sent 50 million XRP to Evernorth on its first day, according to the same Coinrise report.

The announcement was met with a positive market reaction, with XRP climbing over 4% within 24 hours, trading in the $2.40 to $2.58 range, according to Coinrise data. Market experts credit Evernorth’s approach for helping to stabilize XRP’s price, as the company’s treasury model involves buying tokens at market rates and reinvesting profits into additional purchases through DeFi channels. CEO Asheesh Birla highlighted the company’s commitment to a long-term strategy, telling

that “Our goal is to strengthen XRP by channeling returns into new acquisitions,” and noted that Evernorth intends to use XRP for lending, providing liquidity, and validator activities to support the Ripple ecosystem.

Evernorth’s momentum is building as it moves toward a planned Nasdaq listing under the symbol XRPN through a merger with Armada Acquisition Corp II. The company has attracted investment from major players such as SBI Holdings, Pantera Capital, and Kraken, and is now 95% of the way to its $1 billion fundraising goal, according to LiveBitcoinNews. Birla, who has spent 12 years at Ripple, pointed to the improved regulatory environment for XRP in the U.S. as a key driver for institutional interest.

At the same time, the wider XRP community is facing regulatory challenges. While spot ETFs for

and are preparing to launch on Nasdaq, applications for XRP ETFs remain stalled as the SEC continues its review, a situation made worse by the recent U.S. government shutdown, as noted by . Nevertheless, the first U.S.-listed spot XRP ETF, REX-Osprey’s XRPR, has already accumulated over $100 million in managed assets, according to a . Evernorth’s publicly traded treasury could offer another way for investors to gain exposure to XRP, especially as institutional participation in the token grows, as highlighted in a .

Both retail and institutional interest in XRP have been on the rise. Well-known crypto trader James Wynn recently allocated a “substantial share” of his portfolio to XRP, citing its transformative potential for cross-border payments in a

. His investment, along with Uphold’s transfer of 199,998 XRP to Evernorth, further demonstrates the growing recognition of the asset’s practical value.

As Evernorth gets ready for its public launch, the XRP market continues to evolve. The future direction of the token will likely depend on broader economic factors and the SEC’s final decision on XRP ETFs, as discussed in a

.