**Evernorth Expands XRP Holdings to Over $1 Billion, Backed by Ripple**
Evernorth, a Ripple-backed digital asset treasury firm, has significantly increased its XRP holdings to over 388 million tokens, valued at more than $1 billion. This expansion positions Evernorth as a major player in the cryptocurrency market and underscores growing institutional interest in XRP.
### Major XRP Transfers Boost Treasury
On-chain data reveals that Evernorth’s substantial XRP accumulation was powered by large transfers from Ripple and key investors, including Uphold, Coinbase, and Gemini. The largest single transfer came directly from Ripple, amounting to 338 million XRP.
Additionally, Chris Larsen, co-founder of Ripple, played a pivotal role by transferring 50 million XRP from his personal wallet to Evernorth, further enhancing the firm’s treasury. This move reflects both Larsen’s confidence in XRP’s long-term value and Evernorth’s strategic growth plans.
### Chris Larsen’s Continued Commitment
Chris Larsen’s involvement with Evernorth highlights his ongoing commitment to XRP. As of 2025, Larsen’s realized profits from XRP investments have surged to over $750 million, a remarkable increase from valuations below $200 million in 2018.
His decision to channel a substantial amount of XRP into Evernorth underscores the firm’s vision to create the largest publicly traded XRP treasury. Larsen’s participation demonstrates strong institutional backing and belief in the digital asset’s future potential.
### Evernorth’s Plans to Go Public on Nasdaq
Evernorth recently announced plans to go public on the Nasdaq stock exchange through a merger with Armada Acquisition Corp II, a special-purpose acquisition company (SPAC). The firm aims to raise over $1 billion in capital, with investments expected from prominent backers such as Ripple, Rippleworks, Pantera Capital, Kraken, and GSR.
The merger is projected to be finalized by Q1 2026. Upon completion, Evernorth will be listed under the ticker symbol “XRPN,” marking a significant milestone in the company’s growth and its pursuit to become the largest publicly traded XRP treasury.
### XRP Price Surge Amid Institutional Interest
The price of XRP has experienced a notable rebound, rising over 10% within the past week to trade around $2.66. This uptrend includes a 2% increase in the last 24 hours, accompanied by a 17% surge in trading volume.
Market activity in XRP futures has also intensified. Data from CoinGlass indicates a significant rise in open interest on major exchanges like CME and Binance, suggesting increasing trader participation.
This price and volume uptick aligns with Evernorth’s growing XRP holdings and reflects broader institutional confidence in the digital asset’s potential, despite ongoing regulatory challenges in the cryptocurrency sector.
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Evernorth’s aggressive XRP accumulation, backed by influential investors and Ripple itself, alongside its planned Nasdaq listing, signals a new chapter of institutional engagement with XRP. As the digital asset gains momentum, Evernorth is strategically positioning itself to lead the market and enhance XRP’s liquidity and adoption.
https://coincentral.com/ripples-evernorth-expands-xrp-portfolio-to-1b-as-nasdaq-listing-looms/
