Evernorth, the largest institutional holder of XRP, is facing unrealized losses of over 200 million USD
This situation highlights the volatility and risks associated with institutional holdings of cryptocurrency during a sluggish market
The XRP treasury management company Evernorth revealed a decrease in holdings value of over 200 million USD.
Evernorth has become a key player in the process of institutional acceptance of XRP in the United States. In late October, the Nevada-based company announced a plan to raise 1 billion USD to create the largest public XRP treasury company as stated.
On November 4, 2025, Evernorth purchased 84.36 million XRP at an average price of 2.54 USD per coin. This transaction resulted in the company having a total accumulated XRP of over 473.27 million coins.
This continued accumulation reflects Evernorth's belief in XRP as the most important asset of the internet and its mission to create a long-term institutional XRP treasury for compounded returns, the company stated.
However, these purchases come at a cost, as data from CryptoQuant indicates that Evernorth's XRP position currently has unrealized losses of over 200 million USD.
This event reflects the weakness in the XRP market, as nearly half of the circulating coins are currently held at a loss. The price drop is due to XRP's recent weakness.
The mentioned altcoin has decreased by about 25% since Evernorth announced the treasury, currently trading below early year prices, highlighting the challenges XRP is facing as market momentum continues to decline.
At the time of writing, the price of XRP is 1.87 USD, with a price increase of 1.5% in the past 24 hours amidst a general market recovery.
However, BeInCrypto has reported that the current market cycle threatens XRP's chance of maintaining a positive annual return for 2 consecutive years. The token may end the year with a decrease of about 11%.
Meanwhile, XRP is not the only major crypto asset facing pressure in the fourth quarter of 2025, as other leading cryptocurrencies are also declining, impacting the group of institutional investors holding these assets in large quantities on the network.
According to analyst Maartunn, BitMine is currently experiencing unrealized losses of around USD 3.5 billion from its Ethereum holdings, and despite facing this decline, the company continues to accumulate ETH.
In the case of the Bitcoin-focused parties, they also face similar challenges, as Metaplanet's Bitcoin holdings have decreased by about 18.8%, and other institutional holders have shown similar declines due to the overall weakness of the market.
