Evernorth CEO Asheesh Birla has addressed the growing divergence between XRP’s surging on-chain activity and its stagnant price.
Despite a massive surge in on-chain activity, the price of XRP has left some community members questioning why network adoption isn't translating directly to price appreciation. According to the firm, XRP transactions are currently nearing 3 million per day.
They are close to tripling the 1 million daily transactions recorded in mid-2025. Hard Truth About $1 Billion XRP Treasury by CryptoQuant Expert; -199 Billion SHIB: Shiba Inu Coin Sees Exchange Supply Squeeze; Coinbase Opens Perpetual Access to Apple, Amazon and Others: Morning Crypto Report Crypto Market Review: XRP Takes Beating at $1.50, Did Shiba Inu Lose All Hope for $0.00001? Dogecoin's Price Reset Point Is ClearBirla has explained that XRP is yet to become a liquidity bridge at scale, which is why the token has so far failed to experience a massive rally. "Here’s my quick take: XRP is not yet a liquidity bridge at scale," Birla explained."The version of XRP that we believe could drive sustained utility demand is when banks and businesses leverage it as working capital." Birla noted that while there are positive signals indicating institutional use is growing, that growth is currently being outpaced by"the traffic from everyday people." In essence, millions of retail transactions look great for network health and adoption metrics, sustained, but large-scale price appreciation will require the deep pockets of institutional players. The company is preparing to go public on the Nasdaq through a SPAC merger with Armada Acquisition Corp II. The transaction, which is expected to close in Q1 2026, will raise over $1 billion in gross proceeds. Backed by heavyweight investors including SBI , Ripple, Pantera Capital, Kraken, and GSR, Evernorth is aiming to become the world's largest public XRP treasury.
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