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CryptoMediumUpdated×8•Originally published 20 March 2026•Updated 22 March 2026•

1 min read

XRP Faces Supply Shock as $6 Billion Exits Binance Amid Evernorth Nasdaq Plans

Key Facts

1Evernorth Holdings, an XRP-focused treasury firm backed by Ripple, is preparing for a debut on the Nasdaq stock exchange.

2 months ago

Version History

10 additional sources confirmed this story

Version 82 months ago

What changed: The story was updated to include that retail adoption is now the primary driver for XRP growth, outperforming institutional inflows seen in networks like Solana.

Version 72 months ago

What changed: The story was updated to include cautionary remarks from Evernorth CEO Asheesh Birla regarding limited institutional adoption of XRP and the disconnect between network infrastructure growth and price performance.

Version 62 months ago

What changed: The story was updated to include the launch of CACrypto's 'Green Mobility Challenge' on the Ripple network, the introduction of Web3 physical activity rewards, and the emergence of a new $5 price target.

Version 52 months ago

What changed: Updated the story to include Ripple's $2.25 billion acquisition strategy and its securing of 75+ global licenses, along with technical analysis of current price resistance.

Version 43 months ago

What changed: The story was updated to include a massive $6 billion outflow from Binance, signaling a potential supply shock for XRP alongside Evernorth's listing plans.

Version 33 months ago

What changed: Evernorth filed an S-4 form clarifying its intent to use the XRP Ledger for global banking infrastructure, moving beyond a simple treasury holding strategy to an active utility-based business model targeting global banking flows.

Version 23 months ago

What changed: Added technical analyst insights highlighting a potential buying opportunity for XRP below the $1.05 level despite weakening bullish momentum.

Version 13 months ago

What changed: Updated the story to include new CoinShares data showing $76 million in XRP outflows and a capital rotation toward Ethereum and Solana.

Evernorth Holdings is advancing its Nasdaq listing plans, leveraging its $685 million XRP treasury as the market braces for a supply shock following a $6 billion withdrawal from Binance. However, Evernorth CEO Asheesh Birla recently cautioned that institutional adoption of XRP remains too limited to support sustained demand, highlighting a disconnect between infrastructure growth and price performance. In a significant shift, retail adoption has emerged as the primary driver for XRP growth, currently outperforming the institutional inflows that support other networks like Solana. This surge in retail interest comes as market participants monitor technical resistance within a descending channel, which continues to challenge ambitious price targets. While retail-focused initiatives like the 'Green Mobility Challenge' aim to expand network utility, the contrast between retail momentum and institutional hurdles defines the current valuation outlook. Ultimately, the interplay between strong retail demand and structural adoption gaps remains a pivotal factor for XRP's market trajectory.