Evernorth CEO Plans XRP Treasury Ahead of Nasdaq Listing
Evernorth CEO Asheesh Birla revealed plans to build the largest institutional XRP treasury with on-chain yield strategies and a Nasdaq listing. Crypto analyst X Finance Bull cited the strategy as fuel for a ₱5,847 ($100) price target.
Key Takeaway
Evernorth's Nasdaq-listed XRP treasury could unlock institutional capital that analyst sees driving XRP to ₱5,847 ($100).
Evernorth CEO Asheesh Birla outlined plans for an institutional XRP yield economy that could push the token to triple digits, according to crypto analyst X Finance Bull.
Birla revealed Evernorth's strategy to construct an institutional XRP treasury with actual token holdings and deploy on-chain yield strategies across the XRP Ledger. The company plans to list on Nasdaq under ticker XRPN, following its announced business combination with Armada Acquisitions Corp. II in October 2025. Birla spent a decade in the XRP ecosystem before joining Evernorth, including a senior role at Ripple where he built the cross-border payments business.
X Finance Bull set a ₱5,847 ($100) price target for XRP, emphasizing regulatory clarity as the catalyst, institutional capital as the fuel, and the Ledger's DeFi ecosystem as the engine driving potential repricing. The analyst noted that XRP has yet to surpass its 2018 all-time high.
Evernorth differentiates from XRP ETFs by offering direct treasury management, custody, and compliance, allowing stock-based XRP exposure without requiring personal wallet handling. Birla framed the on-chain economy as a bridge that brings traditional finance onto the blockchain, enhancing efficiency across the system.
Ripple serves as a strategic investor in Evernorth, with CEO Brad Garlinghouse, Stuart Alderoty, and David Schwartz acting as advisors. Birla stepped down from Ripple's board to become Evernorth CEO, ensuring operational independence. Evernorth operates as an active steward of the XRPL DeFi ecosystem, including running validators and supporting protocols with institutional capital, while deploying into DeFi yield opportunities that contribute to ecosystem maturity.
This article was written based on reporting from Bitcoinist.
