Evernorth CEO Discusses XRP Price and Network Adoption Discrepancy

Despite a significant increase in on-chain activity for XRP, the asset's price has not seen a corresponding rise. Evernorth's CEO Asheesh Birla offers insights into this phenomenon, explaining that XRP must achieve greater institutional adoption before it can realize a substantial price rally. Evernorth's strategic plans include raising over $1 billion to enhance XRP's market position.

Key Takeaways

XRP transactions are nearing 3 million daily, showing strong network activity.
The asset's price has not reflected this growth, remaining stable despite rising transaction volume.
Asheesh Birla, CEO of Evernorth, highlights the need for XRP to serve as a liquidity bridge on a larger scale.
Institutional adoption is crucial for significant price increases, as retail transactions alone may not drive this shift.
Evernorth is preparing to go public, aiming to become the largest public XRP treasury with a plan to raise over $1 billion through a SPAC merger.

Main Content

The price of XRP has left many in the community questioning why the increase in network adoption isn't resulting in direct price increases, despite a massive surge in on-chain activity.

Currently, XRP transactions are nearing an impressive 3 million per day, which is nearly three times the 1 million daily transactions recorded in mid-2025. Yet, the asset's price hasn't reflected this remarkable growth.

Asheesh Birla, a seasoned Ripple veteran and the CEO of the newly established billion-dollar XRP treasury company Evernorth, has weighed in on these developments. Birla points out that XRP has not yet established itself as a liquidity bridge at scale, which is vital for the asset to see a significant price rally.

"Here’s my quick take: XRP is not yet a liquidity bridge at scale," Birla stated. "The version of XRP that we believe could drive sustained utility demand is when banks and businesses leverage it as working capital."

Birla acknowledged that there are encouraging signs that institutional use is on the rise. However, this growth is currently being outpaced by "the traffic from everyday people." Essentially, although millions of retail transactions contribute positively to network health and adoption metrics, substantial price appreciation will necessitate the involvement of deep-pocketed institutional investors.

In addition to this, Evernorth is pursuing an ambitious plan to institutionalize the XRP token. The company is preparing to go public on the Nasdaq through a SPAC merger with Armada Acquisition Corp II. This transaction, expected to close in the first quarter of 2026, will generate over $1 billion in gross proceeds. With support from prominent investors including SBI ($200 million), Ripple, Pantera Capital, Kraken, and GSR, Evernorth aims to position itself as the world's largest public XRP treasury.