Evernorth: XRP Ledger Activity Continues to Grow
XRP Ledger transactions are rising, but the scale of bank participation remains unclear.
Network activity on the XRP Ledger is increasing, yet one key question remains unanswered: how much of that growth is actually driven by financial institutions?
Evernorth reports that the number of daily transactions on the XRP Ledger has risen from around 1 million in mid-2025 to nearly 3 million today. According to the company, a growing share of this activity is coming from participants operating within the financial sector.
Among the active entities on the network, Evernorth highlights cryptocurrency exchange Bitstamp, Ripple’s RLUSD stablecoin, and Braza Bank. The company argues that these examples demonstrate the expanding use of XRP Ledger beyond traditional cryptocurrency trading.
However, Evernorth did not provide data showing what percentage of the network’s overall activity is generated by banks and financial institutions. It also remains unclear how much of the transaction volume is linked to real-world payments and settlements, rather than activity originating from crypto-focused businesses.
Evernorth CEO Asheesh Birla believes that XRP’s long-term value will depend on adoption by companies and institutions rather than investor speculation. In his view, the recent increase in network activity has not yet been reflected in XRP’s market price, which continues to be influenced by factors such as high interest rates and broader economic uncertainty.
The company also points to developments in the stablecoin sector. According to Evernorth, XRP Ledger has been selected as one of several blockchain networks that will support a regulated euro-denominated stablecoin. However, the materials released so far do not include enough details to assess the scale of the project or its expected usage.
At the same time, Evernorth is building its own XRP-focused business model. The company aims to provide institutions with exposure to the XRP market without requiring them to manage digital wallets or blockchain infrastructure directly.
Evernorth says it is backed by major industry players, including Ripple, Kraken, Pantera Capital, and SBI Holdings. The company also states that it has secured more than $1 billion in funding. In filings submitted to the U.S. Securities and Exchange Commission in March 2026, Evernorth outlined plans to expand its XRP holdings through institutional lending, liquidity provision, and activities related to decentralized finance (DeFi).
