Overview
- Evernorth accumulated roughly 388–389 million XRP worth about $1 billion, with CryptoQuant estimating it spent about $947 million to complete roughly 95% of its initial target.
- XRPSCAN data shows Ripple transferred about 338 million XRP to Evernorth wallets, while Ripple co-founder Chris Larsen moved 50 million XRP from his personal holdings, with additional inflows traced from major exchanges.
- At current prices, the position carries at least $50 million in unrealized gains, and recent reporting links the rapid accumulation to a weekly XRP rise toward about $2.6.
- The firm aims to list under the ticker XRPN through a merger with Armada Acquisition Corp II, with completion expected in Q1 2026 subject to shareholder and regulatory review.
- Backers include a $200 million commitment from SBI Holdings and reported participation from Pantera Capital, Kraken, GSR and Ripple-affiliated investors, while Evernorth outlines an active treasury strategy involving lending, liquidity provision and DeFi yield.