Karla Barker 
Major XRP Accumulation Underway
Evernorth Holdings, a cryptocurrency startup with backing from Ripple, is making significant progress toward its ambitious goal of creating the largest publicly traded XRP treasury. The company has been actively accumulating XRP tokens and has now reached approximately 95% of its $1 billion target.
According to on-chain data, Evernorth currently holds about 388.7 million XRP tokens. This substantial position makes them one of the largest institutional holders of XRP in the market. The value of their holdings has reached around $993.6 million, showing they’re very close to completing their funding objective.
Investment Strategy and Support
What’s interesting about Evernorth’s approach is that they’re not working alone. The company has support from Ripple itself, along with SBI and other prominent cryptocurrency investors. This backing gives their billion-dollar XRP plan additional credibility in the market.
Their strategy appears to mirror what other digital asset treasuries have done previously. It’s essentially building a large, concentrated position in XRP that could potentially influence market dynamics over time.
Price Implications and Analysis
One of the more notable aspects of Evernorth’s accumulation is their average purchase price of approximately $2.44 per XRP. CryptoQuant analyst Maartun has suggested this price level could become technically significant for XRP’s future price movements.
“The average purchase price is around $2.44, which could be a significant level for Ripple’s future price movements,” Maartun noted in his analysis. This suggests that if XRP prices approach this level again, it might find support from Evernorth’s substantial position.
Current Performance and Outlook
Evernorth’s treasury has shown impressive performance recently. The company has invested $947,183,571 so far and has generated approximately $46 million in unrealized profits in just four days. That’s a remarkable return in such a short timeframe, though of course, these are paper gains that could change with market fluctuations.
As they approach their $1 billion funding milestone, market watchers are paying close attention to how this large institutional position might affect XRP’s price dynamics. Large concentrated holdings can sometimes create support levels or influence market sentiment, though it’s always difficult to predict exactly how these factors will play out.
The company’s progress demonstrates continued institutional interest in XRP, which some market participants see as a positive signal for the cryptocurrency’s long-term prospects. However, as with any cryptocurrency investment, there are always risks involved, and past performance doesn’t guarantee future results.