A large-scale XRP transaction has caught the attention of market analysts after Whale Alert reported that 211,000,000 XRP, valued at approximately $506.1 million, moved between two unidentified wallets.
Further investigation revealed that the sender was Ripple, and the recipient was Evernorth, the Ripple-backed company currently preparing for a public listing. Blockchain data now shows that Evernorth’s wallet holds more than 261.9 million XRP, signaling an accelerating build-up of tokens.
The size and timing of the transfer are notable because they appear to be part of Ripple’s ongoing coordination with Evernorth. While neither company released a public statement at the time of the transaction, the move aligns with previously announced plans for Evernorth to manage one of the world’s largest publicly disclosed XRP treasuries.
🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 211,000,000 #XRP (506,152,575 USD) transferred from unknown wallet to unknown wallethttps://t.co/ExDrQTPxqY
— Whale Alert (@whale_alert) October 23, 2025
Evernorth’s Expanding Role in the XRP Ecosystem
Evernorth, established with Ripple’s backing, is positioning itself as a bridge between traditional finance and the digital asset economy. The company intends to go public through a $1 billion SPAC merger.
Its stated purpose is to use capital raised from investors to acquire and manage XRP holdings. By maintaining an extensive treasury, Evernorth aims to support XRP liquidity and expand institutional access to the asset.
Ripple’s transfer of over 200 million XRP directly contributes to this effort. Other notable contributors include Ripple executive Chris Larsen, who sent 50 million XRP, and SBI Holdings, a company that has consistently supported XRP, which has committed $200 million to Evernorth.
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Market Significance for XRP
Analysts view this development as a constructive signal for XRP. The consolidation of large amounts of the token into a corporate treasury can limit circulating supply while encouraging regulated participation in the asset.
Because Evernorth operates as a corporate entity subject to public disclosure, its activities could offer institutional investors a transparent entry point into XRP markets. The movement also reflects Ripple’s ongoing strategy to connect XRP with institutional financial systems.
By working through Evernorth, Ripple can expand XRP’s use in liquidity, lending, and cross-border settlement applications without directly managing those functions itself. This separation of roles enhances operational clarity and positions Evernorth as a specialized entity focused solely on XRP deployment.
Evernorth’s accumulating balance indicates that its treasury operations are well underway. If the company proceeds with its planned listing and subsequent market purchases, XRP could experience increased institutional visibility and demand.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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