Evernorth Holdings Inc. has accumulated over 380 million XRP, reaching nearly 95% of its target holdings. The company, established to boost institutional adoption of XRP, plans to go public through a merger with SPAC Armada Acquisition Corp II, aiming to raise over $1 billion for further XRP expansion. Evernorth has invested $947 million in XRP at an average price of $2.44 per token. The firm intends to generate returns from its XRP holdings by engaging in lending and DeFi liquidity strategies. Ripple supports this initiative through strategic investment and advisory roles, with former Ripple executive Asheesh Birla leading the effort.