The company made a new purchase of XRP for more than $200 million.
Transactions were made for $2.53 per XRP or less.
Evernorth Holdings Inc., a US company created to drive institutional adoption of XRP, continues its long-term accumulation strategy of the cryptocurrency issued by Ripple Labs.
On November 4, the firm acquired 84,365,876 XRP at an average price of $2.53 per unit.
For Evernorth, the fact that XRP remaining below $3 represents an opportunity to continue strengthening your position in the asset.
At the time of publishing this note, the price of XRP is $2.23, 38% below its all-time high (ATH) of $3.65, as seen in the chart below. TradingView:
To complete the operation, Evernorth used part of the $214 million obtained in its most recent private financing round.
In this way, the company already accumulates more than 473 million units of the cryptocurrency since it announced its merger with Armada II at the beginning of this month, as reported by CriptoNoticias.
Unlike a passive investment approach, Evernorth takes an active strategy with its XRP holdings. The company seeks to earn returns by lending the asset to institutions and engaging in liquidity operations within the decentralized finance (DeFi) ecosystem.