Massive XRP Alert: Here’s How Much XRP Evernorth Has Accumulated

Crypto investor Stern Drew has spotlighted a series of large XRP transfers into Evernorth Holdings, a Ripple-affiliated company focused on institutional adoption of XRP. According to Drew’s post titled “MASSIVE XRP ALERT,” Evernorth now holds 261 million XRP, with transaction trails linking back to several major players in the XRP ecosystem.

Breakdown of the XRP Accumulation

Drew detailed that the XRP inflows originated from multiple high-profile sources. The accumulation includes:

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  Ripple: 211 million XRP and an additional 319,000 XRP
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  Chris Larsen, Ripple Co-founder: 50 million XRP
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  Uphold Exchange: 199,000 XRP
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  Jana Label (Tagged Wallet): 300,000 XRP

Drew emphasized that all transfers were made exclusively in XRP, with no stablecoins or other assets, suggesting a concentrated flow of liquidity into a single institutional entity.

SBI Holdings Commits $200 Million to Evernorth

Further bolstering Evernorth’s position, Japanese financial conglomerate SBI Holdings, Inc. announced a $200 million investment in Evernorth. This investment was part of a Private Investment in Public Equity (PIPE) financing round, conducted in collaboration with Ripple Labs Inc. This commitment represents one of SBI’s most significant investments aimed at advancing the global use of XRP.

Evernorth is currently preparing for a Nasdaq listing under the ticker symbol “XRPN” through a merger with Armada Acquisition Corp. II, a U.S.-based Special Purpose Acquisition Company (SPAC). The company anticipates raising over $1 billion in total capital from this transaction.

Institutional Adoption and Market Impact

Evernorth’s expanding XRP treasury, combined with the substantial backing from SBI Holdings, is being viewed as a significant advancement toward the institutional integration of XRP. The capital raised is intended for purchasing XRP from the open market, establishing a large and transparent treasury for engaging in DeFi lending, staking, and liquidity provisioning.

Market analysts suggest these developments underscore XRP's evolving function as a bridge asset within regulated financial systems. This signifies a strategic shift from speculative trading towards establishing institutional-grade utility and infrastructure for the digital asset.

As Stern Drew summarized, "Pure liquidity is flowing into one entity." With Evernorth's capital infusion and the strategic support from SBI Holdings, the narrative surrounding XRP's institutional adoption appears to be strengthening considerably.