There is a piece of XRP data that must be mentioned—Evernorth Holdings, an institution supporting this project and with a high-level executive background, is now experiencing a rather awkward situation.

Let's look at the numbers first: this company holds approximately 389 million XRP. It sounds like a lot, but the key is how they acquired it. According to on-chain data tracking, the initial purchase cost was about $947 million.

What about now? The price of XRP is at $1.86. Even a layperson can tell that these 389 million XRP now have a market value of approximately $724 million. In other words—on paper, they are directly at a loss of over $220 million.

Such situations are not uncommon in cryptocurrency investments, but when it happens to an institution with a background, it can reveal some insights. Market volatility, entry timing, holding strategies... all these factors are reflected in this number. By the way, the performance of XRP in recent years has indeed deviated quite a bit from expectations.