XRP News Today: Evernorth’s Approach to Reinvesting XRP Builds $1B Treasury, Enhancing Trust Among Institutions
- Evernorth Holdings, backed by Ripple, surpassed $1B in XRP treasury value, boosting institutional confidence and pushing XRP prices up 4%. - The firm received 530M XRP from Ripple and 50M from CEO Chris Larsen, using DeFi protocols to reinvest gains into further token purchases. - Evernorth plans a Nasdaq listing (XRPN) via SPAC merger, with 95% of its $1B funding target secured and regulatory clarity in the U.S. driving adoption. - Despite SEC delays on XRP ETFs, institutional demand grows as Evernorth'
Evernorth Holdings, a digital asset company supported by Ripple, has achieved a significant breakthrough as its
The announcement was met with a positive market reaction, with XRP climbing over 4% within 24 hours, trading in the $2.40 to $2.58 range, according to Coinrise data. Market experts credit Evernorth’s approach for helping to stabilize XRP’s price, as the company’s treasury model involves buying tokens at market rates and reinvesting profits into additional purchases through DeFi channels. CEO Asheesh Birla highlighted the company’s commitment to a long-term strategy, telling
Evernorth’s momentum is building as it moves toward a planned Nasdaq listing under the symbol XRPN through a merger with Armada Acquisition Corp II. The company has attracted investment from major players such as SBI Holdings, Pantera Capital, and Kraken, and is now 95% of the way to its $1 billion fundraising goal, according to LiveBitcoinNews. Birla, who has spent 12 years at Ripple, pointed to the improved regulatory environment for XRP in the U.S. as a key driver for institutional interest.
At the same time, the wider XRP community is facing regulatory challenges. While spot ETFs for
Both retail and institutional interest in XRP have been on the rise. Well-known crypto trader James Wynn recently allocated a “substantial share” of his portfolio to XRP, citing its transformative potential for cross-border payments in a
As Evernorth gets ready for its public launch, the XRP market continues to evolve. The future direction of the token will likely depend on broader economic factors and the SEC’s final decision on XRP ETFs, as discussed in a
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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