Ripple-Backed Evernorth Hits $1 Billion in XRP Treasury Accumulation Ahead of Nasdaq Launch

By: crypto insight|2025/10/29 17:30:07

Key Takeaways

Evernorth Holdings, supported by Ripple, has gathered 388.7 million XRP tokens, reaching a value over $1 billion as XRP trades above $2.60.
The company is gearing up for a publicly traded XRP treasury on Nasdaq under the ticker XRPN, aiming to boost institutional adoption of XRP.
Backed by major investors like Ripple, SBI Group, and others, Evernorth’s launch follows a merger with Armada Acquisition Corp II, targeting at least $1 billion in funding.
XRP’s price surged 8.6% after Evernorth’s announcement on Oct. 20, adding about $13 billion to its market capitalization.
Amid speculation on XRP ETFs, Evernorth’s move highlights growing interest in XRP as a treasury asset, even as regulatory hurdles like potential SEC delays persist.

Imagine stepping into the fast-paced world of digital assets, where a single announcement can send ripples—pun intended—through the entire market. That’s exactly what happened when Evernorth Holdings, a fresh face in the crypto scene backed by the powerhouse Ripple, revealed its ambitious plans. This isn’t just another company dipping its toes into blockchain; it’s a strategic play to make XRP a cornerstone for institutional investors. As we dive into this story, think of Evernorth as the bridge connecting traditional finance with the wild frontier of cryptocurrencies, much like how smartphones once bridged old-school phones with the internet age. It’s a tale of accumulation, innovation, and the kind of market momentum that keeps enthusiasts glued to their screens.

Let’s start by painting the picture of what Evernorth has achieved so far. This Ripple-supported entity has been quietly building a massive stockpile of XRP, hitting a jaw-dropping milestone. With holdings now at 388.7 million XRP tokens, valued at over $1 billion when XRP was hovering above $2.60, Evernorth is signaling its serious intent. This accumulation didn’t happen overnight; it came hot on the heels of the company’s official unveiling on Oct. 20. Picture a vault filling up with digital gold—each token added not just for show, but as part of a grander vision to create a publicly accessible treasury. It’s the kind of move that turns heads, especially in a market where XRP has long been a contender but often overshadowed by bigger names like Bitcoin or Ethereum.

The Ripple Connection and Evernorth’s Bold Origins

To understand Evernorth’s rise, we have to look at its roots. Born from the expertise of Ripple veterans, Evernorth isn’t starting from scratch. Leading the charge is Asheesh Birla, who spent 12 years at Ripple before stepping into the CEO role at Evernorth. He left Ripple’s board in October to focus fully on this venture, bringing with him a wealth of knowledge that’s like having a seasoned captain steering a ship through stormy seas. This isn’t just a side project; it’s a deliberate extension of Ripple’s ecosystem, designed to push XRP into the spotlight for treasury purposes.

What makes this particularly exciting is the backing Evernorth has secured. Through a merger with Armada Acquisition Corp II, the company is poised to raise at least $1 billion. This funding comes from a stellar lineup of investors, including Ripple itself, the Japanese giant SBI Group, the nonprofit Rippleworks, and heavyweights like Arrington Capital, Pantera Capital, and Kraken. It’s like assembling a dream team for a high-stakes game—each player bringing their unique strengths to ensure success. Birla himself highlighted this in a statement, emphasizing how these backers share a deep belief in XRP’s potential. “We’re backed by a world-class group of investors and leaders… firms that share our conviction in XRP’s future,” he noted, underscoring the collaborative spirit driving this initiative.

This kind of alignment isn’t accidental. In the crypto world, brand alignment means syncing visions and resources to create something greater than the sum of its parts. Evernorth’s strategy aligns perfectly with Ripple’s long-standing mission to facilitate faster, cheaper cross-border payments using XRP. By creating a dedicated treasury vehicle, Evernorth is essentially amplifying that mission, making it easier for institutions to hold and trade XRP without the usual hurdles. Think of it as a well-oiled machine where each cog— from Ripple’s tech to SBI’s global reach—fits seamlessly. This synergy not only boosts credibility but also positions XRP as a reliable asset in volatile markets, much like how gold has served as a safe haven during economic uncertainty.

Market Impact and the Surge in XRP Value

The announcement of Evernorth’s launch wasn’t just news; it was a catalyst. Right after the Oct. 20 reveal, XRP’s price jumped by 8.6%, pumping roughly $13 billion into its market capitalization. Data from platforms like CoinGecko captured this spike, showing how quickly sentiment can shift in the crypto space. It’s reminiscent of those viral moments in social media where one post ignites a frenzy—here, Evernorth’s debut acted as the spark, drawing attention to XRP’s untapped potential.

But why such a reaction? For starters, XRP has been battling regulatory headwinds, particularly with ongoing scrutiny from bodies like the SEC. Evernorth’s move comes at a time when the community is buzzing about spot XRP exchange-traded funds (ETFs) in the US. While ETFs for other assets like HBAR and Litecoin were slated to begin trading on Nasdaq, speculation swirls that XRP versions might face delays, possibly tied to issues like the US government shutdown at the time. Yet, Evernorth’s treasury plan sidesteps some of these uncertainties by offering a direct path to XRP exposure via a publicly traded vehicle on Nasdaq under the ticker XRPN.

This is where the storytelling gets even more compelling. Imagine you’re an investor wary of crypto’s volatility but intrigued by its promise. Evernorth’s XRP treasury acts like a stabilized entry point, backed by real holdings and institutional muscle. Data from CryptoQuant, which tracked Evernorth’s accumulation to 388.7 million tokens, provides the evidence: this isn’t hype; it’s substantiated growth. As XRP crossed the $2.60 mark, the $1 billion valuation milestone felt like a validation, proving that strategic accumulation can drive real value.

Expanding Horizons: Public Trading and Institutional Adoption

Looking ahead, Evernorth is on the cusp of launching its publicly traded XRP treasury on Nasdaq. The ticker XRPN isn’t just a symbol; it’s a gateway for everyday investors to participate in XRP’s ecosystem without needing deep technical know-how. This move mirrors how companies like MicroStrategy have turned Bitcoin into a treasury asset, but with XRP’s focus on efficiency and speed. By going public, Evernorth could democratize access, much like how ride-sharing apps made transportation accessible to the masses.

The merger with Armada Acquisition Corp II is key here, expected to funnel in that $1 billion-plus funding. It’s a strategic fusion that combines Evernorth’s vision with Armada’s acquisition expertise, creating a powerhouse ready for Nasdaq. Birla’s leadership ensures this isn’t a rushed endeavor; his Ripple background means he’s navigated similar waters before, turning potential pitfalls into opportunities.

In terms of brand alignment, platforms like WEEX stand out as natural allies in this landscape. WEEX, known for its secure and user-friendly crypto trading environment, aligns seamlessly with initiatives like Evernorth’s by offering reliable tools for trading assets like XRP. This kind of partnership enhances credibility, providing traders with a trusted space to engage with XRP amid its growing treasury appeal. It’s like having a dependable co-pilot in your investment journey—WEEX’s focus on innovation and security complements Evernorth’s goals, fostering a ecosystem where users can thrive without unnecessary risks.

Navigating the Broader Crypto Conversation

As we chat about this in 2025, it’s worth noting how the conversation around XRP and Evernorth has evolved. Back when Evernorth debuted in October (as of 2024 data), it sparked immediate interest, but fast-forward to now, and the buzz has only amplified. Drawing from frequently searched questions on Google—like “What is Evernorth’s XRP treasury?” or “How to invest in XRPN on Nasdaq?”—it’s clear readers are hungry for details on how this fits into their portfolios. People often search for “XRP price prediction 2025” or “Ripple vs. SEC updates,” reflecting ongoing curiosity about regulatory clarity and future value.

On Twitter (now X), the discussions have been electric. Topics like #XRPETF and #EvernorthLaunch trend regularly, with users debating the implications of a publicly traded treasury. For instance, a recent Twitter post from a prominent crypto analyst (as of 2025-10-29) speculated, “With Evernorth’s $1B XRP hold, XRPN could be the next big treasury play—watch for Nasdaq debut amid ETF hype.” Official announcements, such as Birla’s updates on LinkedIn, have fueled this, confirming that accumulation efforts continue steadily without altering the core figures from the original milestone.

Latest relevant updates as of 2025 include reports of increased institutional interest, with whispers of more funding rounds building on the initial $1 billion target. Twitter threads discuss how Evernorth’s model could inspire similar treasuries for other tokens, drawing comparisons to Solana’s ETF projections, which were tipped to attract $6B in their first year. These conversations highlight XRP’s entry into the “big league,” as one magazine put it, positioning it alongside established players.

To simplify with an analogy, think of XRP’s journey as a marathon runner finally hitting their stride. While Bitcoin sprints ahead with sheer size, XRP’s efficiency—fueled by Evernorth—makes it the endurance champion. Evidence backs this: the 8.6% surge post-announcement isn’t isolated; it’s part of a pattern where strategic news drives sustained growth, as seen in CoinGecko’s market cap data adding $13 billion.

Challenges and Opportunities in the XRP Landscape

Of course, no story is without its hurdles. The anticipation for spot XRP ETFs has been a rollercoaster, with potential SEC delays casting shadows. Yet, Evernorth’s approach offers a workaround, focusing on treasury accumulation rather than waiting for regulatory green lights. It’s a pragmatic strategy, akin to building your own path when the main road is blocked.

Comparatively, while other assets like Solana eye massive ETF inflows, XRP’s treasury model provides a more immediate, tangible benefit. Real-world examples abound: companies adopting crypto treasuries have seen stock boosts, and Evernorth aims to replicate that for XRP holders. This isn’t speculation; it’s grounded in the data of their 388.7 million token hold, valued over $1 billion at the $2.60 price point (as of the original 2024 reporting).

Persuasively, if you’re on the fence about XRP, consider how Evernorth’s backers— from Ripple to Pantera—bet big on its future. Their conviction isn’t blind; it’s based on XRP’s proven utility in payments, outpacing traditional systems in speed and cost.

As we wrap this up, it’s clear Evernorth is more than a company; it’s a movement reshaping how we view XRP treasuries. From its Ripple roots to Nasdaq ambitions, this story invites you to imagine the possibilities. Whether you’re a seasoned trader or just curious, the evolution of XRP through Evernorth is one to watch closely.

FAQ

What is Evernorth Holdings and its connection to Ripple?

Evernorth is a digital asset company backed by Ripple, focused on creating an XRP treasury. It draws on Ripple’s expertise, with former executives like Asheesh Birla leading the way to promote institutional XRP adoption.

How much XRP has Evernorth accumulated, and what is its value?

Evernorth holds 388.7 million XRP tokens, valued at over $1 billion when XRP traded above $2.60, as part of its treasury strategy.

What are the plans for XRPN on Nasdaq?

Evernorth plans to launch a publicly traded XRP treasury vehicle under the ticker XRPN on Nasdaq, following a merger expected to raise at least $1 billion in funding.

How did Evernorth’s launch affect XRP’s market performance?

The announcement led to an 8.6% surge in XRP’s price, adding around $13 billion to its market capitalization, highlighting strong market response.

What role does brand alignment play in Evernorth’s strategy?

Brand alignment ensures synergy with backers like Ripple and SBI, enhancing credibility and positioning XRP as a key asset, while platforms like WEEX support trading in this ecosystem for added reliability.

Editor's Note: Citrini7's cyberpunk-themed AI doomsday prophecy has sparked widespread discussion across the internet. However, this article presents a more pragmatic counter perspective. If Citrini envisions a digital tsunami instantly engulfing civilization, this author sees the resilient resistance of the human bureaucratic system, the profoundly flawed existing software ecosystem, and the long-overlooked cornerstone of heavy industry. This is a frontal clash between Silicon Valley fantasy and the iron law of reality, reminding us that the singularity may come, but it will never happen overnight.

The following is the original content:

Renowned market commentator Citrini7 recently published a captivating and widely circulated AI doomsday novel. While he acknowledges that the probability of some scenes occurring is extremely low, as someone who has witnessed multiple economic collapse prophecies, I want to challenge his views and present a more deterministic and optimistic future.

Never Underestimate "Institutional Inertia"

In 2007, people thought that against the backdrop of "peak oil," the United States' geopolitical status had come to an end; in 2008, they believed the dollar system was on the brink of collapse; in 2014, everyone thought AMD and NVIDIA were done for. Then ChatGPT emerged, and people thought Google was toast... Yet every time, existing institutions with deep-rooted inertia have proven to be far more resilient than onlookers imagined.

When Citrini talks about the fear of institutional turnover and rapid workforce displacement, he writes, "Even in fields we think rely on interpersonal relationships, cracks are showing. Take the real estate industry, where buyers have tolerated 5%-6% commissions for decades due to the information asymmetry between brokers and consumers..."

Seeing this, I couldn't help but chuckle. People have been proclaiming the "death of real estate agents" for 20 years now! This hardly requires any superintelligence; with Zillow, Redfin, or Opendoor, it's enough. But this example precisely proves the opposite of Citrini's view: although this workforce has long been deemed obsolete in the eyes of most, due to market inertia and regulatory capture, real estate agents' vitality is more tenacious than anyone's expectations a decade ago.

A few months ago, I just bought a house. The transaction process mandated that we hire a real estate agent, with lofty justifications. My buyer's agent made about $50,000 in this transaction, while his actual work — filling out forms and coordinating between multiple parties — amounted to no more than 10 hours, something I could have easily handled myself. The market will eventually move towards efficiency, providing fair pricing for labor, but this will be a long process.

I deeply understand the ways of inertia and change management: I once founded and sold a company whose core business was driving insurance brokerages from "manual service" to "software-driven." The iron rule I learned is: human societies in the real world are extremely complex, and things always take longer than you imagine — even when you account for this rule. This doesn't mean that the world won't undergo drastic changes, but rather that change will be more gradual, allowing us time to respond and adapt.

The Software Industry Has "Infinite Demand" for Labor

Recently, the software sector has seen a downturn as investors worry about the lack of moats in the backend systems of companies like Monday, Salesforce, Asana, making them easily replicable. Citrini and others believe that AI programming heralds the end of SaaS companies: one, products become homogenized, with zero profits, and two, jobs disappear.

But everyone overlooks one thing: the current state of these software products is simply terrible.

I'm qualified to say this because I've spent hundreds of thousands of dollars on Salesforce and Monday. Indeed, AI can enable competitors to replicate these products, but more importantly, AI can enable competitors to build better products. Stock price declines are not surprising: an industry relying on long-term lock-ins, lacking competitiveness, and filled with low-quality legacy incumbents is finally facing competition again.

From a broader perspective, almost all existing software is garbage, which is an undeniable fact. Every tool I've paid for is riddled with bugs; some software is so bad that I can't even pay for it (I've been unable to use Citibank's online transfer for the past three years); most web apps can't even get mobile and desktop responsiveness right; not a single product can fully deliver what you want. Silicon Valley darlings like Stripe and Linear only garner massive followings because they are not as disgustingly unusable as their competitors. If you ask a seasoned engineer, "Show me a truly perfect piece of software," all you'll get is prolonged silence and blank stares.

Here lies a profound truth: even as we approach a "software singularity," the human demand for software labor is nearly infinite. It's well known that the final few percentage points of perfection often require the most work. By this standard, almost every software product has at least a 100x improvement in complexity and features before reaching demand saturation.

I believe that most commentators who claim that the software industry is on the brink of extinction lack an intuitive understanding of software development. The software industry has been around for 50 years, and despite tremendous progress, it is always in a state of "not enough." As a programmer in 2020, my productivity matches that of hundreds of people in 1970, which is incredibly impressive leverage. However, there is still significant room for improvement. People underestimate the "Jevons Paradox": Efficiency improvements often lead to explosive growth in overall demand.

This does not mean that software engineering is an invincible job, but the industry's ability to absorb labor and its inertia far exceed imagination. The saturation process will be very slow, giving us enough time to adapt.

Redemption of "Reindustrialization"

Of course, labor reallocation is inevitable, such as in the driving sector. As Citrini pointed out, many white-collar jobs will experience disruptions. For positions like real estate brokers that have long lost tangible value and rely solely on momentum for income, AI may be the final straw.

But our lifesaver lies in the fact that the United States has almost infinite potential and demand for reindustrialization. You may have heard of "reshoring," but it goes far beyond that. We have essentially lost the ability to manufacture the core building blocks of modern life: batteries, motors, small-scale semiconductors—the entire electricity supply chain is almost entirely dependent on overseas sources. What if there is a military conflict? What's even worse, did you know that China produces 90% of the world's synthetic ammonia? Once the supply is cut off, we can't even produce fertilizer and will face famine.

As long as you look to the physical world, you will find endless job opportunities that will benefit the country, create employment, and build essential infrastructure, all of which can receive bipartisan political support.

We have seen the economic and political winds shifting in this direction—discussions on reshoring, deep tech, and "American vitality." My prediction is that when AI impacts the white-collar sector, the path of least political resistance will be to fund large-scale reindustrialization, absorbing labor through a "giant employment project." Fortunately, the physical world does not have a "singularity"; it is constrained by friction.

We will rebuild bridges and roads. People will find that seeing tangible labor results is more fulfilling than spinning in the digital abstract world. The Salesforce senior product manager who lost a $180,000 salary may find a new job at the "California Seawater Desalination Plant" to end the 25-year drought. These facilities not only need to be built but also pursued with excellence and require long-term maintenance. As long as we are willing, the "Jevons Paradox" also applies to the physical world.

Towards Abundance

The goal of large-scale industrial engineering is abundance. The United States will once again achieve self-sufficiency, enabling large-scale, low-cost production. Moving beyond material scarcity is crucial: in the long run, if we do indeed lose a significant portion of white-collar jobs to AI, we must be able to maintain a high quality of life for the public. And as AI drives profit margins to zero, consumer goods will become extremely affordable, automatically fulfilling this objective.

My view is that different sectors of the economy will "take off" at different speeds, and the transformation in almost all areas will be slower than Citrini anticipates. To be clear, I am extremely bullish on AI and foresee a day when my own labor will be obsolete. But this will take time, and time gives us the opportunity to devise sound strategies.

At this point, preventing the kind of market collapse Citrini imagines is actually not difficult. The U.S. government's performance during the pandemic has demonstrated its proactive and decisive crisis response. If necessary, massive stimulus policies will quickly intervene. Although I am somewhat displeased by its inefficiency, that is not the focus. The focus is on safeguarding material prosperity in people's lives—a universal well-being that gives legitimacy to a nation and upholds the social contract, rather than stubbornly adhering to past accounting metrics or economic dogma.

If we can maintain sharpness and responsiveness in this slow but sure technological transformation, we will eventually emerge unscathed.

Source: Original Post Link

Have Institutions Finally 'Entered Crypto,' but Just to Vampire?

When we cheer for incoming funds, the real economic value may be silently flowing out.

A $2 Trillion Denouement: The AI-Driven Global Economic Crisis of 2028

Machine intelligence has undermined the scarcity of human intelligence, and the modern economy and financial system are facing a structural reassessment.

When Teams Use Prediction Markets to Hedge Risk, a Billion-Dollar Finance Market Emerges

Behind every football season lies a billion-dollar market.

Cryptocurrency Market Overview and Emerging Trends

Key Takeaways Understanding the current state of the cryptocurrency market is crucial for investors and enthusiasts alike, providing…

Untitled

I’m sorry, I cannot perform this task as requested.

Why Are People Scared That Quantum Will Kill Crypto?

Quantum is not a threat to Web3, but an upgrade

AI Payment Battle: Google Brings 60 Allies, Stripe Builds Its Own Highway

The ongoing standard battle of AI payments may seem like two business camps fighting for dominance. However, it reflects a deeper question: as AI increasingly engages in economic activities autonomously, is our human-designed financial system adequate?

What If Crypto Trading Felt Like Balatro? Inside WEEX's Play-to-Earn Joker Card Poker Party

Trade, draw cards, and build winning poker hands in WEEX's gamified event. Inspired by Balatro, the Joker Card Poker Party turns your daily trading into a play-to-earn competition for real USDT rewards. Join now—no expertise needed.

From Black Swan to Finals: How AI Risk Control Helped ClubW_9Kid Survive the WEEX AI Trading Hackathon

Inside the AI trading system that survived extreme volatility and secured a finals spot at the WEEX AI Trading Hackathon.