XRP has steadily gained traction in the cryptocurrency space, especially with an increasing number of dedicated treasury companies embracing its potential. Recently, Evernorth announced an ambitious initiative to raise more than $1 billion, with the goal of making XRP its primary reserve asset.
A Surge in XRP Treasury Companies
According to insights shared by crypto analyst BD on X, a total of 11 companies now hold XRP treasuries. Evernorth is set to emerge as the leading public holder of XRP, bolstered by contributions from Ripple itself, which has allocated a portion of its own XRP assets to this endeavour.
Each of these companies is making significant investments: Trident claims the spot as the second-largest holder with an approximate balance of $500 million worth of XRP. Meanwhile, Webus maintains a treasury valued at $300 million. Notably, VivoPower has acquired $121 million in XRP and aims to stake some tokens in Flare to generate yield.
Additionally, Wellgistics ranks fifth with a commitment of $50 million towards acquiring XRP, and Hyperscale holds $10 million in XRP reserves. Similarly, Everything Blockchain allocated an equivalent amount and plans to leverage its assets on Flare for yield optimization. The Japanese company Gumi is set to invest approximately $17 million over the next few months.
Moreover, Gumi is also channeling $5 million into Evernorth’s PIPE initiative, further solidifying its position among the top XRP treasury holders. Additional companies contributing smaller amounts include Worksport at $5 million, BC Bud with $250,000, and Digital Comm at $225,000.
XRP vs. Ethereum: A Comparative Analysis
Despite these advancements, it’s essential to recognize that XRP’s treasury movement still lags behind that of Ethereum. Recent data from Strategic ETH Reserve indicates that there are 69 ETH treasury companies, collectively managing around $22.99 billion in ETH—about 5% of the asset’s total supply.
In contrast, the 11 XRP treasury companies cumulatively hold roughly $2 billion in XRP. This shift could signal a potential supply constraint for XRP, especially as these companies continue to accumulate assets. The emergence of additional treasury entities could be a catalyst for a significant price increase in XRP.
As per the latest market data, XRP is trading at approximately $2.39, reflecting a minor decline in the past 24 hours, according to CoinMarketCap.
