A noteworthy data point has surfaced—Evernorth Holdings, the funding entity backed by Ripple executives, holds 389 million XRP, which was acquired at a cost of $947 million.

It sounds like a significant investment, but the current situation is a bit awkward. Based on the current XRP price of $1.86, the market value of this holding is just over $724 million. In other words, it has already incurred a loss of more than $220 million on paper.

Such a large-scale holding movement naturally attracts market attention. The data behind this reflects a certain stance by institutional players on XRP's long-term prospects—whether it’s a firm hold or a strategic adjustment, it’s worth traders and investors pondering. Especially in the volatile environment of the crypto market, the difference between the holding cost of major funds and the current market price often reveals a lot of information.