Evernorth Holdings Inc., backed by Ripple and set to go public through a SPAC merger, has amassed a substantial 261 million XRP. This investment aligns with the company’s intention to establish an XRP-based treasury, potentially making it the world’s largest publicly traded institutional repository for the cryptocurrency. 2023 saw several notable partnerships in accumulating XRP, including Evernorth, which will soon be listed on the Nasdaq stock exchange via a merger with Armada Acquisition Corp II. Ripple co-founder and executive chairman Chris Larsen, contributed 50 million XRP to this investment, followed by Ripple’s contribution of 211 million and 319,000 XRP in separate transactions. The overall fundraising for Evernorth is set to conclude in Q1 2026, with the secured capital paving the way for an extensive XRP-based treasury. Evernorth’s ambitious plan aims to be a leader in managing and accumulating XRP. This news could signal a potential turn for XRP as its market capitalization remains around $146.61 billion, currently ranking fifth overall. Notably, XRP has experienced a 2.07% price increase over the past 24 hours, reaching $2.45 per unit. This surge in price is attributed to the news of Evernorth’s significant investment and could signify a potential turnaround for the cryptocurrency.