Evernorth, backed by Ripple and leading financial institutions, has secured a major investment of over $1 billion in XRP. This strategic move paves the way for its planned merger with Armada Acquisition Corp II, aiming for a Nasdaq listing. The acquisition signifies a significant step towards institutional adoption of XRP, potentially boosting liquidity and influencing market dynamics. Evernorth’s substantial treasury build-up follows a significant investment from Ripple, SBI Holdings, and other key players, totaling over 530 million XRP from Ripple alone, with $200 million added by SBI Holdings. The transaction is expected to drive considerable market impact, fueled by the potential shifts in capital flows and increased liquidity for XRP.