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 steadily accumulating XRP tokens and is now approaching the $1 billion funding milestone that it announced recently.
According to on-chain data analysis, Evernorth has already gathered approximately 388.7 million XRP tokens. This substantial holding makes the company one of the largest institutional holders of XRP in the market. The current value of their XRP holdings sits at around $993.6 million, which means they’ve completed about 95% of their $1 billion target.
Investment Strategy and Price Implications
What’s particularly interesting is the average purchase price for Evernorth’s XRP acquisitions. The data shows they’ve been buying at an average price of $2.44 per token. This price level could become technically significant for XRP’s future price movements, according to some analysts.
CryptoQuant analyst Maartun has pointed out that this $2.44 level might form a key support zone for XRP. The reasoning is that with such a large institutional player having accumulated at this price point, there could be substantial buying interest if the price approaches this level again.
Financial Performance and Market Impact
Evernorth’s strategy appears to be paying off in the short term. The company has invested approximately $947 million in building its XRP treasury and has already generated around $46 million in unrealized profits over just four days. That’s a pretty rapid return, though of course these are paper gains that could change with market volatility.
The company’s approach isn’t entirely new in the crypto space. Similar strategies have been employed by other digital asset treasuries, including TRON Inc. What makes Evernorth notable is the scale of their ambition and the backing they’ve secured from major players like Ripple and SBI.
Looking Ahead
With just 5% remaining to reach their $1 billion target, Evernorth is clearly committed to becoming a major force in the XRP ecosystem. Their continued accumulation could provide ongoing support for XRP prices, though it’s worth remembering that market conditions can change quickly.
The $2.44 average purchase price will be interesting to watch. If XRP prices dip toward that level, we might see whether Evernorth continues buying or if other market participants view it as an attractive entry point. Either way, having a billion-dollar treasury focused specifically on XRP represents a significant vote of confidence in the asset’s long-term prospects.
Of course, as with any cryptocurrency investment, there are risks involved. Market conditions can shift rapidly, and past performance doesn’t guarantee future results. But for now, Evernorth’s progress suggests strong institutional interest in XRP continues to build.
