XRP price decline impacts institutional holdings, XRP Treasury Company Evernorth faces over $200 million in unrealized losses

Recently, XRP prices have remained weak, attracting widespread market attention. As one of the largest institutional holders of XRP, asset management firm Evernorth is under significant on-paper pressure. According to on-chain data analysis, Evernorth’s unrealized losses on XRP holdings have exceeded $200 million, making it a typical case among institutional investors during this round of market correction.

Evernorth is headquartered in Nevada, USA, and is an important participant in the institutional application and fund management of XRP. In late October 2025, the company announced a high-profile plan to raise $1 billion to create what it calls the “world’s largest public XRP fund management company.” Subsequently, on November 4th, Evernorth purchased approximately 84.36 million XRP at an average price of $2.54, increasing its total XRP holdings to about 473 million.

However, since Evernorth first disclosed its XRP treasury plan, the price of XRP has fallen approximately 25%. Currently, XRP trades around $1.87, significantly down from its early-year levels. Data shows that nearly half of the circulating XRP supply is in floating loss, reflecting that overall market sentiment for XRP remains weak.

Although XRP has rebounded slightly by about 1.5% in the past 24 hours, many institutions expect this market cycle may end XRP’s two-year streak of annual positive returns, with an estimated full-year decline of about 11% in 2025.

Notably, Evernorth is not the only institutional investor under pressure. In the fourth quarter of 2025, mainstream crypto assets including Ethereum and Bitcoin have generally retraced. Analysts point out that the unrealized losses of some Ethereum institutional holdings have reached tens of billions of dollars, and Bitcoin institutional investors are also facing nearly 20% on-paper drawdowns.

Overall, under the dual influence of macroeconomic environment and market sentiment, institutional-level crypto asset allocations are undergoing severe tests, and the XRP market still faces considerable short-term volatility pressure.