- Evernorth accumulates 388.71 million XRP worth approximately $993.6 million in total.
- The average purchase price sits at $2.44 per token across multiple acquisition transactions.
- The firm generated $46M to $75M in unrealized gains since the October 2025 accumulation began.
Evernorth Holdings Inc. has executed one of the largest institutional cryptocurrency purchases on record. The XRP treasury company, backed by Ripple, has acquired 388.71 million tokens, reaching 95% of its stated target.
CryptoQuant analyst JA_Maartun highlighted the milestone, noting the company’s average purchase price of $2.44 could serve as a key level for future XRP price action. The accumulation campaign, which began in October 2025, has generated approximately $46 to $75 million in unrealized gains as the token has appreciated from purchase levels.
Acquisition Timeline Spans Multiple Transfers
Evernorth’s buying activity started on October 20 when Ripple co-founder Chris Larsen transferred 50 million XRP, valued at $124.5 million, to the company’s BitGo-managed wallet. Uphold exchange contributed approximately 200,000 XRP on October 21.
The largest single transfer occurred on October 23 when Ripple executed two transactions totaling 211.319 million XRP. The company first sent 319,095 tokens, followed by a massive 211 million XRP transfer. Additional contributions came from various wallets, including roughly 300,000 XRP from a wallet labeled “Jana.”
The Nevada-based corporation was formed specifically to enable institutional-scale XRP adoption. CEO Asheesh Birla, a former senior Ripple executive, leads the company. Birla previously built Ripple’s cross-border payments business before joining Evernorth.
Strong Ties to the Ripple Ecosystem
Ripple executives Brad Garlinghouse, Stuart Alderoty, and David Schwartz are expected to serve as strategic advisors to Evernorth. Chris Larsen has positioned himself as a major investor in the venture, alongside his initial token transfer to launch operations.
As of October 27, 2025, Evernorth’s holdings stand at 388.71 million XRP worth approximately $993.6 million. The company has invested roughly $947 million in its treasury accumulation campaign.
Market analyst Ether Nasyonal suggested XRP may be preparing for a major price movement. “Stuck between its 2017 and 2021 peaks, XRP is maturing in a year-long reaccumulation phase,” the analyst stated. “This silence is a precursor to a major move. Once the structure is complete, a new parabolic wave will take hold.”
The $2.44 average purchase price is a potential support level given the size of Evernorth’s position. Institutional participants with large holdings often defend their entry prices through additional purchases or market participation.
Related: https://coinedition.com/xrp-etf-approval-odds-surge-99-sec-guidance-shift/
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