Despite a surge in on-chain activity on the XRP ledger, with daily transaction volume approaching 3 million, its price has not reflected this growth. Ripple senior executive Asheesh Birla, CEO of Evernorth, attributes this to XRP not yet becoming a "large-scale liquidity bridge" for institutional working capital, and points out that retail trading volume currently surpasses institutional adoption. Evernorth has gained support from major investors and plans to go public on Nasdaq through a SPAC merger in Q1 2026, aiming to raise over $1 billion to become the world's largest publicly traded XRP entity.

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