Evernorth Has Reached 95% Of Its XRP Treasury Target – Here Are The Numbers

Scott Matherson

Last Updated: October 29, 2025 8:00 pm

4 mins read

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Evernorth has emerged as the latest powerhouse in institutional crypto accumulation, closing in on its ambitious XRP treasury goal. In just a few days, the firm has reached 95% of its accumulation target, marking a major milestone in XRP’s journey toward broader institutional adoption. The rapid growth of Evernorth’s reserves and its strategic partnerships has sparked renewed excitement across the XRP community, signaling what could be a pivotal shift in how institutions engage with the cryptocurrency.

Evernorth Nears $1 Billion In XRP Holdings

A new report from CryptoQuant has revealed that Evernorth’s XRP holdings is now nearing the $1 billion funding milestone, positioning it among the top institutional holders of the cryptocurrency. According to JA Maartunn, a community analyst at CryptoQuant, Evernorth currently holds 388,710,606.03 XRP, reaching 95% of its $1 billion target.

The company’s total XRP treasury is now valued at approximately $947,183,571, with unrealized profits of roughly $46 million generated in four days. This figure reflects an average purchase price of $2.44 per XRP, which Maartunn believes could become a defining price level for the cryptocurrency’s market trajectory.

Notably, Evernorth’s XRP treasury comes amid a broader trend of institutional diversification toward digital assets. Earlier this year, several major crypto treasury institutions—most notably Strategy, with its aggressive Bitcoin accumulation strategy, and The Ether Machine, with its dedicated focus on Ethereum—set the tone for large-scale crypto accumulation.

Evernorth’s expanding holdings signal a decisive shift beyond BTC and ETH, underscoring a maturing institutional demand for alternative layer-1 assets. It also suggests that XRP may become the next frontier for institutional treasuries seeking exposure to high-liquidity, regulated crypto assets.

Evernorth’s XRP Growth Strategy

Asheesh Birla, the CEO of Evernorth, introduced the treasury company last week, on October 20, through an X post. He described it as an institutional vehicle built to propel XRP’s global adoption. The announcement detailed the company’s plans to go public through a SPAC merger with Armada Acquisition Corp II (NASDAQ:AACI), targeting gross proceeds of more than $1 billion.

Evernorth’s growth strategy includes acquiring XRP through innovative financial structures designed to maximize XRP per share and expanding internationally into key markets like Japan and South Korea. The company also plans to diversify its yield generation through risk-mitigated treasury deployment. These initiatives reflect a deliberate, structured approach toward building a long-term institutional presence around XRP.

Ripple CEO Brad Garlinghouse has also praised Birla’s initiative, noting Ripple’s partnership and investment alongside prominent firms such as SBI Holdings, Pantera Capital, Kraken, GSR, and Rippleworks. Garlinghouse said that Evernorth’s participation in institutional lending, liquidity provision, and DeFi yield opportunities will be instrumental in expanding XRP’s utility. Ripple’s CTO, David Schwartz, who joins Evernorth as a strategic advisor, echoed this sentiment, expressing enthusiasm for building scalable opportunities for XRP across DeFi and capital markets.

XRP trading at $2.65 on the 1D chart | Source: XRPUSDT on Tradingview.com

Featured image from Adobe Stock, chart from Tradingview.com

Scott Matherson

Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers.

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With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others.

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