Ripple-Backed Evernorth Tops 473M XRP, Redefining Institutional Crypto Power

Evernorth Holdings’ aggressive expansion to more than 473 million XRP cements a powerful wave of institutional conviction, signaling accelerating adoption, strategic accumulation, and a bold move to redefine regulated digital asset exposure through a publicly traded XRP treasury.

Evernorth Expands XRP Holdings to Over 473 Million Amid Soaring Institutional Confidence

Growing confidence in XRP’s long-term potential continues to gain traction among institutional investors. Ripple-backed Evernorth Holdings Inc. announced on Nov. 4 that it had acquired an additional $214 million in XRP, increasing its total bought and committed holdings to more than 473 million XRP.

The company confirmed: “It has purchased an additional 84,365,876.3625 XRP at an average price of $2.53657058 per XRP, as part of its long-term accumulation strategy.” The Nevada-based company stated that it funded the acquisition using proceeds from its previously completed advanced funding private placement. The firm added:

This brings Evernorth’s total XRP purchased and committed to over 473,276,430 XRP since announcing its business combination with Armada II earlier this month.

At the time of writing, XRP trades at $2.26, slightly below Evernorth’s average purchase price. The acquisition follows the company’s merger with Armada Acquisition Corp. II (Nasdaq: XPRN), a special purpose acquisition company formed in 2024 to execute mergers and reorganizations in the financial sector.

Evernorth Holdings is executing an ambitious strategy to establish the world’s largest publicly traded XRP treasury, aiming to amass over $1 billion in the digital asset. The initiative, backed by Ripple and major crypto investors, seeks to provide traditional investors with regulated, transparent access to XRP through a publicly listed stock (XRPN).

Unlike a passive ETF, Evernorth plans for active treasury management by using the funds for open-market XRP purchases and generating yield through institutional lending, liquidity provisioning, and selected DeFi opportunities. Commenting on its latest XRP purchase, Evernorth stressed:

This continued accumulation reflects Evernorth’s conviction in XRP as the most important asset of the internet, and its mission to build a long-term, institutional-grade XRP treasury with compounding yield.

Ripple executives, including CEO Brad Garlinghouse and CTO David Schwartz, have publicly endorsed Evernorth’s strategy, calling it a “first-of-its-kind institutional vehicle” to accelerate regulated XRP adoption across decentralized finance and capital markets. Analysts view this trajectory as a bullish signal, suggesting the firm’s expansion could mark the start of a massive institutional era for XRP.

FAQ 🧭

• Why did Evernorth Holdings acquire an additional $214 million in XRP?

Evernorth’s latest $214 million XRP purchase aligns with its long-term strategy to build the largest publicly traded XRP treasury.

• How much XRP does Evernorth Holdings now control after the acquisition?

Following the new purchase, Evernorth’s total XRP bought and committed exceeds 473 million tokens.

• What differentiates Evernorth’s XRP strategy from a traditional ETF?

Unlike a passive ETF, Evernorth’s model involves active treasury management—using its XRP for open-market accumulation, institutional lending, liquidity provisioning, and yield generation via DeFi opportunities.

• How does Evernorth’s partnership and merger activity strengthen its XRP ambitions?

The company’s merger with Armada Acquisition Corp. II and Ripple’s backing provide the regulatory and capital foundation for Evernorth to pioneer institutional-grade XRP access through its publicly traded stock, XRPN.