Ripple-Backed Evernorth XRP Treasury’s Holdings Reach $1B Ahead of Nasdaq Listing

In a major XRP news today, Ripple-backed digital asset treasury firm Evernorth has expanded its XRP holdings to over $1 billion. On-chain data reveals the firm received massive amounts of XRP from Ripple, Uphold, and individual investors such as Chris Larsen just days after announcing a SPAC merger to raise more than $1 billion for institutional XRP accumulation.

Ripple Powers Evernorth with Over $1 Billion in XRP Holdings

Evernorth Holdings has become the latest to join VivoPower International, Trident Digital Tech Holdings, and Webus to stockpile XRP. Ripple Labs has powered the XRP treasury firm with over 388.71 million XRP worth over $1 billion, according to on-chain data.

Ripple sent more than 338 million XRP in total to an Evernorth-linked wallet. Transfers from individuals, including Chris Larsen and Edward Hennis, were also noted. The wallet also accumulated the crypto assets from Uphold, Coinbase, and Gemini in just a week.

Last week, Chris Larsen confirmed a 50 million XRP transfer from one of his wallets to invest in Evernorth treasury deal. This expands Larsen’s realized profit to $764,209,610 since 2018, with a massive jump from under $200 million to over $750 million in 2025.

According to CryptoQuant data, the unrealized profit of Evernorth has surpassed $45 million, with $947 million invested to date. The digital asset firm led by former Ripple executive Asheesh Birla would continue to accumulate XRP as it seeks to become the largest publicly traded XRP treasury.

XRP News: Evernorth Plans Nasdaq Listing

On October 20, Evernorth announced plans to go public on the Nasdaq stock exchange through a merger with a special-purpose acquisition company (SPAC) called Armada Acquisition Corp II. The firm also revealed XRPN as the ticker for the merger expected to complete by Q1 2026.

The firm plans to raise over $1 billion, including $200 million from SBI, and additional investments from Ripple, Rippleworks, Pantera Capital, Kraken, and GSR.

If completed, the firm will become the largest XRP treasury company. This major XRP news related to digital asset treasury has sparked positive sentiment in the crypto community.

Price Rebounds Over 10%

XRP price has bounced more than 10% in a week, with a 24-hour rise of 2%. The price is currently trading at $2.66, with an intraday low and high of $2.60 and $2.67, respectively. Furthermore, the trading volume has jumped by 17% in the last 24 hours, indicating a rise in interest among traders.

Moreover, the derivatives market showed buying in the past few hours, as per CoinGlass data. At the time of writing, the total XRP futures open interest climbed 3% to $4.51 billion. The futures open interest is up more than 1% in the last hour. Notably, XRP futures OI on CME and Binance jumped by more than 2% and 5% in the last 24 hours, respectively.