Kraken Observes Institutional Surge as Evernorth Targets $1 Billion XRP Treasury

In a landmark move for institutional cryptocurrency adoption, Evernorth has unveiled plans to raise $1 billion for a dedicated XRP treasury. This initiative, announced on October 21, 2025, represents the largest institutional commitment to XRP to date, with 80% of funds allocated for open-market purchases. The strategy focuses on active yield generation rather than passive holding, signaling growing institutional demand for liquid digital asset exposure. As major exchanges like Kraken track this development, the move could catalyze further institutional participation in the XRP ecosystem while potentially impacting market liquidity and price dynamics.

Evernorth Aims to Raise $1 Billion for XRP Treasury in Landmark Institutional Move

Evernorth, a publicly listed investment vehicle, has announced plans to secure $1 billion for what WOULD become the largest dedicated XRP treasury. The initiative targets institutional investors seeking liquid exposure to the digital asset, with a focus on active yield generation rather than passive holding.

Approximately 80% of the capital will fund open-market XRP purchases, while the remainder covers operational costs. The venture has already secured a $200 million anchor commitment from SBI Holdings, with participation from Ripple, Pantera Capital, and Kraken among others.

Former Ripple executive Asheesh Birla leads the project, which promises institutional-grade access to XRP through market-making, DeFi strategies, and ecosystem participation. Regulatory approvals permitting, the transaction is slated for completion by Q1 2026.

XRP Price Rebounds Cautiously — Can Momentum Build From Here?

XRP price has initiated a cautious recovery, climbing above the $2.40 support level after forming a base NEAR $2.20. The digital asset now faces immediate resistance at $2.5350, a level that has previously capped upward movements. Market participants are watching to see if this rebound can gain momentum or if another pullback is imminent.

A bullish trend line is emerging on the hourly chart, offering support at $2.420. The price currently trades above both this trend line and the 100-hourly Simple Moving Average, suggesting some underlying strength. However, failure to breach the $2.5350 resistance could trigger renewed selling pressure.

The recovery mirrors broader market movements, with Bitcoin and ethereum showing similar patterns. XRP's ability to hold above key Fibonacci levels — particularly the 50% retracement of its recent decline — indicates potential for further gains if buyers can overcome the current resistance zone.