Evernorth Holds 261 Million XRP Worth $639.45 Million
Evernorth Holdings Inc., supported by Ripple, is assembling a significant XRP treasury, joining firms like VivoPower and Trident Digital Tech. Currently, Evernorth holds approximately 261 million XRP, valued at $639.45 million.
Nasdaq Merger and Fundraising
- Evernorth plans to go public via a merger with SPAC Armada Acquisition Corp II.
- The deal aims to raise over $1 billion from SBI Holdings, Pantera Capital, Ripple Labs, GSR, and Kraken.
- Chris Larsen, Ripple's co-founder, contributed 50 million XRP.
- Ripple transferred 211 million and 319,000 XRP in two transactions.
- Additional contributions include Uphold exchange (199k XRP) and another entity (300k XRP).
The fundraising is expected to conclude in Q1 2026, pending regulatory and shareholder approvals. The capital will support the creation of a substantial institutional XRP treasury.
XRP Market Impact
- XRP is the fifth-largest cryptocurrency by market cap, currently around $146.61 billion.
- Its price has increased by 2.07% in the last 24 hours, reaching $2.45.
- Recent investments might have positively influenced XRP's price.
- Market sentiment indicates a potential further increase in XRP value.