**Evernorth Holdings Acquires Over $1 Billion in XRP, Boosting Market Sentiment**
Evernorth Holdings, a Ripple-backed digital asset firm, has recently acquired a substantial amount of XRP, marking a significant development in the cryptocurrency market. The large purchases by Evernorth have positively influenced market sentiment, coinciding with new whale inflows into the asset.
**Corporate Crypto Treasuries on the Rise**
This year has seen an increase in corporate crypto treasury holdings, as more firms seek to diversify their assets and strengthen their balance sheets. Evernorth Holdings’ accumulation of XRP is a testament to this growing trend among institutional investors.
**Evernorth’s Massive XRP Accumulation**
On-chain data reveals that Evernorth Holdings has amassed more than 388.7 million XRP, valued at over $1 billion, following the announcement of its crypto treasury activities. This acquisition represents a major milestone for the company, which officially launched on October 20.
In addition, Evernorth is contemplating listing the publicly traded XRP company on Nasdaq, an initiative that has been warmly received by the cryptocurrency community.
**Leadership and Strategic Partnerships**
Asheesh Birla, Evernorth’s CEO, has committed to expanding collaborations involving XRP, including partnerships with Rippleworks and the SBI Group. Birla previously served at Ripple before stepping down to lead Evernorth, thereby reinforcing the ties between the two organizations.
Plans are also underway to finalize a merger with Armada Acquisition Corp. II, which will support the firm’s strategy to raise approximately $1 billion for further crypto purchases.
**Backing by Industry Leaders**
Birla emphasized: “We’re backed by a world-class group of investors and leaders, including SBI, Ripple, Arrington Capital, Pantera Capital, and Kraken, firms that share our conviction in XRP’s future. For the first time, XRP has clear regulatory standing in the United States, opening the door for large-scale adoption.”
He described Evernorth as a trusted and transparent bridge to public markets, meeting the increasing institutional demand for cryptocurrency amid clearer regulatory frameworks.
**Regulatory Changes and Market Impact**
XRP previously faced downward pressure due to lawsuits filed by the U.S. Securities and Exchange Commission (SEC), which alleged the sale of unregistered securities. However, the prospect of a pro-crypto approach during President Trump’s second term shifted market dynamics.
This regulatory clarity sparked bullish investment trends, leading to notable growth across major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), and XRP within months. Impressively, XRP temporarily surpassed USDT to become the third-largest cryptocurrency by market capitalization.
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Evernorth Holdings’ strategic moves and strong backing signal a promising future for XRP, especially as institutional interest and regulatory clarity continue to evolve.
https://zycrypto.com/evernorths-1-billion-xrp-purchase-marks-largest-single-institutional-acquisition-for-digital-asset/