Chairman Chris Larsen highlighted the milestone, which connects XRP to the capital markets, while also mentioning the $50 million investment. Evernorth XRP provides the missing link today in terms of XRP use in capital markets and DeFi products. I am proud to have invested 50 million XRP in the firm. You can see some of the wallet movement in it.

At the time of press time, XRP was trading at $2.45, having reached an intraday high of $2.48, extending its recovery to a third day from a low of $2.19 on October 17.

The $1 billion transaction creates the largest public XRP treasury company.
The $3 level retest remains the next technical milestone for XRP. Two key resistance levels remain on the way to the $3 level, which are $2.58 and $2.82. A breach above these levels could force XRP to test $3 again.

Evernorth will provide investors with exposure to XRP through a publicly listed vehicle and will also deploy assets to advance the XRPL ecosystem.
Newly formed Nevada corporation Evernorth announced its public launch after raising $1 billion in funding from SBI, Ripple, Rippleworks, Pantera Capital, Kraken and GSR, including participation from Ripple co-founder Chris Larsen, making it the largest public XRP treasury company.