Evernorth’s Billion-Dollar XRP Bet
Key Highlights:
• Evernorth completes a near-$1 billion XRP purchase, already netting $75 million in unrealized gains.
• XRP surges 6% as institutional momentum accelerates through treasury initiatives and the new XRPR ETF.
Yello Paradisers! In a stunning move that cements XRP’s comeback story, Evernorth Holdings, a newly formed XRP-focused treasury company, has officially completed nearly $1 billion worth of XRP purchases within its first week of operation.
According to MCP Onchain data, Evernorth acquired 388.7 million XRP for approximately $947 million, completing 95% of its target allocation. The firm’s aggressive entry has already produced $75 million in paper profits, based on an average entry of $2.44 and current prices near $2.61.
The buy marks one of the largest institutional accumulations of a non-Bitcoin, non-Ethereum asset in history, underscoring how quickly sentiment toward XRP has shifted among traditional finance players.
A Corporate Treasury Built Like MicroStrategy — But for XRP
Evernorth’s strategy mirrors the playbook of MicroStrategy’s Bitcoin accumulation, yet with a more diversified structure. The company isn’t just holding XRP; it’s actively deploying it through lending, liquidity provision, and DeFi yield generation, aiming to create a yield-bearing treasury model.
Led by CEO Asheesh Birla, a former Ripple executive, Evernorth is structured as a publicly traded digital-asset treasury that plans to list on Nasdaq via a $1 billion SPAC merger. Backers include SBI Holdings, Pantera Capital, Kraken, GSR, and Ripple co-founder Chris Larsen.
Birla described the project as “a symbiotic model designed to strengthen XRP’s ecosystem while generating returns for shareholders.”
XRP Price Surges on Institutional Momentum
Evernorth’s massive accumulation has helped fuel XRP’s 6% rally over the past week, with the token peaking near $2.64. Analysts say that if the company maintains its current accumulation pace, it could absorb up to 2% of XRP’s liquid supply within a year, potentially stabilizing prices and reducing volatility.
Adding to the bullish sentiment, REX-Osprey’s XRPR ETF, the first U.S. exchange-traded fund offering direct XRP exposure, surpassed $100 million AUM within a month of launch. This surge in institutional-grade products signals that Wall Street is finally warming up to Ripple’s asset after years of legal uncertainty.
Institutional XRP Treasuries Multiply
Evernorth’s arrival is part of a broader wave of XRP-focused treasury initiatives gaining momentum across corporate America. Companies including Trident Digital, Webus International, and VivoPower have disclosed hundreds of millions in planned XRP allocations.
Ripple’s own $1 billion fundraising for a digital asset treasury (DAT) structure further underscores the coordinated institutional embrace of the token.
For context, XRP’s total market capitalization recently surpassed $138 billion, with institutions now controlling a growing share of circulating supply, a trend reminiscent of early Bitcoin corporate accumulation phases.
The Broader Shift: XRP as the “Compliance Coin”
The timing couldn’t be more symbolic. Ripple’s legal clarity following its victory against the SEC has reframed XRP as the “compliant institutional blockchain asset”, a narrative that is drawing capital from both traditional finance and DeFi sectors.
Even retail traders have rekindled their enthusiasm. Influencer James Wynn recently called XRP “a bet on the future of global payments,” even projecting a wildly optimistic $500 price target tied to sovereign debt offset theories. While far-fetched, the community’s conviction adds fuel to the ongoing hype cycle.
What’s Next for XRP?
With fresh inflows from institutional treasuries, ETF demand, and corporate balance-sheet allocations, XRP’s liquidity structure is changing fast. MCP analysts are warning that if supply continues to concentrate in institutional hands, retail-driven volatility may fade, but upside could amplify sharply in bullish phases.
Simon will dissect this XRP megatrend in our MCP YouTube stream, exploring how Evernorth’s $1B entry and Ripple’s new treasury model could reshape altcoin investment dynamics.
Meanwhile, ParadiseFamilyVIP members are monitoring the XRP accumulation zones identified in last week’s premium setups, and MCP News Private subscribers (just $3/month) will receive a detailed chart-based breakdown of how XRP’s new “institutional floor” could influence altcoin sentiment heading into November.
