The crypto market is closely watching the institutional adoption of XRP. Recently, the launch of Evernorth, a new investment firm, was announced. This entity is backed by Ripple and plans to build a massive $1B treasury dedicated to XRP. The announcement was shared by Evernorth’s CEO, Asheesh Birla.
Evernorth has ambitious plans to consolidate capital. The firm will buy XRP directly from the open market, a strategy generating optimism. Furthermore, Evernorth will seek to go public through a SPAC merger. It will join with Armada Acquisition Corp II. The goal is to debut on Nasdaq in the first quarter of 2026 under the ticker “XRPN”.
This move is significant for the Ripple ecosystem. Evernorth presents itself as a regulated institutional vehicle. Its purpose is to provide major financial players with access to XRP. The project has the backing of prominent investors. Among them are SBI Holdings, Pantera Capital, and Kraken. This positions Evernorth as a serious player in market infrastructure.
Is the price of XRP ready to surpass $3?
The creation of this treasury is relevant for the asset’s holders. Evernorth offers companies and funds a compliant pathway to invest. This prevents institutions from buying spot crypto directly. By consolidating capital into a listed and regulated vehicle, large-scale access is facilitated. The open market purchase plan suggests sustained future buying pressure.
As this news develops, the price of XRP is showing strength. The asset maintains solid support in the $2.30 zone. Technical analysts are watching the next key level at $2.60. If the price manages to break and hold that resistance, it could seek targets of $2.80 or $3.00. The overall sentiment appears bullish, pending technical confirmation.
