Evernorth faces $389M unrealized loss on XRP bet

Evernorth Holdings, a firm founded by a former Ripple executive, has been profitable for only two weeks since implementing its XRP accumulation strategy, U.Today reported. The company is now facing an unrealized loss of approximately $389 million. Evernorth purchased about $950 million worth of XRP in the fall of 2025 at an average price of $2.44 per coin, but the market entered a sharp downturn shortly after.