   
Evernorth Holdings, the Ripple-backed digital asset company, acquired a large amount of XRP. The large purchases drove up market sentiment amid new whale inflows into the asset. This year, corporate crypto treasuries have increased their holdings as more companies look to diversify their balance sheets.
Institutional investors increase their holdings in XRP
On-chain data shows that Evernorth Holdings accumulated over 388.7 million XRP worth over $1 billion after marking up its crypto treasury. This marks a major milestone for the company, which launched on October 20. Evernorth is considering listing the XRP company publicly traded on Nasdaq, much to the delight of the community.
Asheesh Birla, CEO of Evernorth, has promised more collaborations with the asset, including deals with Rippleworks and SBI Group. Birla left Ripple to take over Evernorth, thus strengthening the connection between the two entities. Plans are also underway to finalize a merger with Armada Acquisition Corp. II. The company will also raise around $1 billion for cryptocurrency purchases.
“We are backed by a group of world-class investors and leaders, including firms SBI, Ripple, Arrington Capital, Pantera Capital and Kraken who share our conviction in the future of XRP. For the first time, XRP has a clear regulatory position in the United States, opening the door to wide-scale adoption.”added Birla.
He described the company as a trustworthy and transparent bridge to public markets at a time when institutional demand for cryptocurrencies is increasing. Previously, XRP faced negative pressure following 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 to the bulls that they needed to increase investment as authorities introduced clear rules. Major assets such as Bitcoin (BTC), Ethereum (ETH), and XRP saw significant growth in a matter of months. Notably, XRP temporarily overtook USDT as the third-largest cryptocurrency by market cap.
At the time of writing, XRP is trading at $2.63, up 10% on the week. The broader market remained sideways, with traders becoming more cautious after the sudden drop, which wiped out earlier gains. Evernorth’s investment boosted short-term traders, who were also influenced by previous analysts’ expectations of a price rise. XRP-based treasury companies are also building momentum for the asset through traditional capital inflows. Last week, institutional investments in XRP funds exceeded 84 million dollars.
