The number of XRP treasury companies has surged to 11, surpassing market expectations. Evernorth's recent $1 billion fundraising aims to acquire XRP as its primary reserve asset, intensifying the Ripple vs. Ethereum institutional dominance battle. Can this growing momentum narrow the gap with the ETH ecosystem?
Crypto researcher BD published a detailed analysis on X revealing the existence of 11 active XRP treasury companies in the market. Evernorth is establishing itself as the future leader of this movement with its planned $1 billion fundraising. The company benefits from direct support from Ripple, who helped establish its initial XRP reserves to create this institutional treasury.
Trident ranks second with $500 million in assets, followed by Webus holding $300 million in treasury. VivoPower has deployed $121 million to acquire XRP and plans to stake part of its tokens on Flare to generate passive yield. This staking strategy has become a recurring approach among several companies in the ranking.
Wellgistics occupies fifth place with $50 million invested in XRP, while Hyperscale and Everything Blockchain each hold $10 million. Japanese company Gumi plans to deploy $17 million between now and next February, while investing an additional $5 million in Evernorth’s PIPE. Worksport, BC Bud, and Digital Comm complete the picture with respective positions of $5 million, $250,000, and $225,000.
The gap between XRP and Ethereum remains significant despite the positive dynamics observed with Ripple. According to Strategic ETH Reserve, 69 ETH treasury companies collectively hold $22.99 billion, representing nearly 5% of the total supply. In comparison, the 11 treasury companies, including Evernorth, accumulate only about $2 billion, confirming Ethereum’s institutional dominance.
This institutional accumulation around XRP could potentially trigger a supply shock if the trend accelerates. The arrival of new treasuries would reduce the available supply in the spot market, exerting upward pressure on the price action. Additionally, staking strategies on Flare remove tokens from circulation, accentuating this potential scarcity.
Despite persistent volatility, market sentiment is gradually becoming more favorable. Investors are waiting for the actual deployment of announced capital to confirm this momentum. A breakout above $2.50 would constitute a strong signal of institutional validation and could mark a new bullish phase for XRP.
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