Evernorth, a major XRP treasury firm, faces a $380 million paper loss due to a 7% drop in XRP price, highlighting risks of concentrated crypto treasury holdings. Ripple’s 2026 roadmap aims to transform the XRP Ledger into a robust institutional DeFi platform featuring lending, confidential transfers, and tokenized collateral. Evernorth plans to leverage XRP for yield generation once the new lending protocol launches, making its current losses an early test of Ripple's strategy.