Evernorth Holdings holds 389 million XRP, close to the target of 95%.

According to news on October 27, data from Cryptoquant reveals that Evernorth Holdings has accumulated a total of 388,710,606.03 XRP (approximately $994 million), becoming one of the major institutional investors in XRP. The company, supported by Ripple, plans to go public through a SPAC merger with Armada Acquisition Corp II (NASDAQ: AACI), aiming to raise over $1 billion to expand its XRP reserves. Currently, Evernorth has invested $947 million to establish its reserves, achieving approximately $46 million in unrealized gains within just four days. Its average purchase price for XRP is about $2.44.

XRP-0.45%
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