Ripple-Backed Evernorth Snaps Up $1B in XRP Before Treasury Launch

● Evernorth—a financial firm with Ripple backing—has picked up more than $1 billion worth of XRP while getting ready to roll out its XRP Treasury. The buy brings their stash to 388.7 million XRP, putting them among the top institutional players holding the token.

● The massive purchase is clearly about locking in liquidity before the Treasury platform goes live. That platform is being built to handle corporate payments, crypto custody, and regulated digital financing. But some analysts are raising eyebrows—holding this much XRP in one place could squeeze liquidity, create short-term price swings, and mess with supply as the market reacts to the Treasury's expected buying pressure.

● On the flip side, Evernorth's bold move shows growing institutional trust in Ripple's ecosystem, even as regulators keep a close watch on crypto markets. If the Treasury works as planned, it could become a blueprint for how companies manage blockchain-based reserves—giving businesses a transparent, on-chain way to handle working capital. Still, critics worry that concentrating so much XRP with one firm might fuel concerns about market manipulation or sudden sell-offs if Evernorth decides to shift strategy.

● As Conor Kenny put it: "Ripple-backed Evernorth has purchased over $1 BILLION in $XRP ahead of its upcoming $XRP Treasury launch," adding that the company now "holds 388.7 million $XRP—one of the largest institutional accumulations to date."

● The timing matters. Regulators worldwide are hashing out rules for crypto taxes and treasury standards, while Ripple keeps expanding its network of payment and banking partnerships. By stockpiling XRP now, Evernorth seems to be betting on the token becoming a key bridge for cross-border deals and digital settlements.

● If it works, this could cement Ripple's reputation as a compliant enterprise blockchain provider and show how institutional crypto adoption can blend with traditional finance—potentially changing how corporate treasuries operate in the digital age.