XRP trading volume showed a bullish recovery following the recent government bond accumulation hype surrounding Ripple-backed coins. In particular, Evernorth, a newly formed company, is focused on a cryptocurrency investment plan that will enable XRP adoption on an institutional scale.
XRP investors resume activity
According to CoinMarketCap dataXRP trading volume increased by more than 25% in the past 24 hours to $4.8 billion.
This increase signals increased market activity and means investors are interested in accumulating XRP despite continued price volatility. At the time of writing, XRP is valued at $2.4 and has a market capitalization of $146.9 billion.
One of the major contributors to the increased activity in the XRP market is the recent announcement from Evernorth, a company backed by Ripple.
In a post on X, Evernorth expressed excitement about the partnership with Allington Capital. This post is related to a major announcement on October 20th in which Evernorth revealed its plans to list on the Nasdaq through a SPAC merger with Armada Acquisition Corporation.
Evernorth is designed as an institutional finance company and has plans to offer investors exposure to XRP. After launch, Evernorth is expected to raise more than $1 billion in total revenue. This is in addition to $200 million from SBI Holdings and additional investment from Ripple and other industry players.
If final approval is granted, the combined company will trade on the Nasdaq under the ticker XRPN, with the transaction expected to close in the first quarter of 2026. The funds will mainly be used to purchase XRP on the open market, build a large treasury, and also provide some operating funds.
Impact on XRP price
This move by Evernorth will impact XRP. First, it positions this coin as an important player in corporate finances, similar to how companies own Bitcoin (BTC).
As a result, Ripple-backed coins are likely to see more demand and utility. As XRP adoption increases, the price is expected to rise.
Importantly, Evernorth is not the only company expanding XRP adoption within its organization. For example, VivoPower, a popular XRP financial company, recently Raised $19 million by issuing new shares.
The company plans to use these funds to purchase additional XRP coins in the future.
In a similar move, Ripple announced it has acquired GTreasury, a leader in financial management. blockchain payment company Aims to raise $1 billion through special acquisition company Establish XRP Treasury.
On the other hand, Ripple CTO David Schwartz said, Confirmed Following speculation about his involvement, he only has an advisory role at Evernorth.
