Big development for $XRP
Evernorth Holdings plans to actively manage its 473 million XRP holdings, valued at approximately $648 million.
The company has named Ripple, Kraken, Coinbase and BitGo as initial partners.
Why it matters:
Instead of simply holding $XRP Evernorth plans to pursue institutional strategies and eventually explore lending opportunities.
My Take: This could support XRP's institutional use, but lending and liquidity risks remain. The announcement does not represent a new $648 million purchase.
Can institutional adoption strengthen XRP's long-term utility?
XRP
1.3362
+2.59%