Evernorth Reaches 95% Of 2025 XRP Target, Ranks Second Among Institutional Holders

Evernorth Holdings Inc., a newly formed company aiming to enable XRP acquisition on an institutional scale, has achieved another significant milestone in its XRP accumulation strategy . According to data revealed today by market analyst CryptoQuant, Evernorth has bought an additional 127.7 million XRP tokens worth $360.55 million, pushing its total holding to 388.71 million XRP tokens. The latest acquisition made the company surpass the $1 billion mark in XRP holdings, equivalent to 388.71 million XRP tokens held in its corporate treasury. With the continued accumulation, Evernorth is cementing its presence as one of the leading institutional XRP holders.

Evernorth Making Progress Towards XRP Target

Evernorth’s latest purchase highlights a crucial step towards its ambitious targets of 409.16 XRP before the end of the year. With 127.7 million XRP tokens now secured, the firm has accomplished 95% of the target.

Evernorth is a new investment company aiming to become a publicly traded digital asset treasury that offers investors exposure to XRP through a transparent, liquid, and compliant structure. The company plans to grow the value of XRP per share through a mixture of institutional investment strategies, DeFi yield mechanisms, investor participation in its network, and capital trading activities.

Last Friday, October 24, 2025, Evernorth announced that its holdings reached 261 million XPR valued at $639.45 million. A week ago, on October 20, the firm revealed plans to become a publicly traded company on the Nasdaq stock exchange via a merger with a SPAC company – Armada Acquisition Corp II. As part of the plan to go public, Evernorth seeks to raise more than $1 billion in total revenues from Kraken, Ripple Labs, Pantera Capital, and SBI holdings.

Last week on Friday, Evernorth disclosed that it had 261 million XRP in its balance sheet, hinting that some partners have fulfilled their pledges. Chris Larsen, the executive chairman and co-founder of Ripple Labs, had pledged to give out an investment worth 50 million XRP tokens (valued at $124.5 million) into the Evernorth deal. The fundraising activity is expected to conclude in the first quarter of 2026, subject to regulatory clearance and shareholder approval. According to Evernorth’s plans, it intends to utilize the acquired funds to build its XRP-focused treasury.

Top Companies Holding XRP Treasuries

With the latest acquisition, Evernorth is now the second-largest corporate XRP holder among multiple firms holding XRP on their balance sheets. The latest on-chain metrics (dated October 13, 2025) show that SBI Holdings , the Japan-based asset management firm, is the largest corporate holder of XRP, currently holding $10.40 billion of XRP in its treasury assets.

Evernorth Holdings Inc., a newly established Nevada-based company, is ranked the second biggest corporate XRP holder, with its holdings currently totaling $1 billion.

Third on this list is Trident Digital, a Singapore-based public company. The firm disclosed its plans in June to raise $500 million to develop an XRP treasury.

Webus International LTD is in the fourth position; it disclosed its plans in May to develop a $300 million XRP reserve. VivoPower International PLC followed with its plans underway to debut its XRP treasury reserve with $100 million.