Evernorth Reports $220M+ Unrealized Losses on XRP

Evernorth Holdings, a Nevada-based firm backed by Ripple executives and positioned as the largest institutional holder of XRP, is reporting unrealized losses exceeding 220 million on its cryptocurrency treasury as of late December 2025. The downturn stems from a sharp decline in XRP's price over the past month, which has eroded the value of the company's substantial holdings accumulated during a period of market optimism.

The firm began building its XRP position aggressively in late October 2025, announcing plans to raise 1 billion to create the largest public XRP treasury. Between late October and late December, Evernorth acquired approximately 389 million XRP tokens at an average cost basis that totaled around 947 million. At the peak, when XRP traded near 2.60, the holdings briefly generated an unrealized profit of about 71 million. However, XRP's price has since fallen roughly 16 percent over the last 30 days, settling around 1.86 to 1.87 as of the latest trading. This slide, part of a broader cryptocurrency market correction that has also driven Bitcoin below 88,000, has reduced the value of Evernorth's stake to approximately 724 million, according to on-chain data tracked...