Important points
- Ripple-linked Evernorth has seen its XRP holdings drop by $220 million.
- Evernorth invested approximately $947 million and acquired approximately 389 million XRP.
Evernorth Holdings, the XRP treasury entity backed by Ripple executives, has more than $220 million in paper losses following the recent decline in the coin’s value.
According to data tracked by CryptoQuant, Evernorth’s XRP position totals approximately 389 million tokens, purchased for approximately $947 million.
Based on the current XRP price of $1.86, the value of that stock will decrease to $724 million, resulting in a huge unrealized loss for the company.
Ripple’s native crypto asset, XRP, has fallen about 16% over the past 30 days as a market-wide correction has pushed Bitcoin below $88,000.
The U.S.-listed XRP ETF has seen consistent inflows since its debut, with more than $1 billion in total inflows according to SoSoValue, yet its price has fallen.
