A significant transaction involving 211,000,000 XRP, valued at approximately $506.1 million, has been observed moving between two unidentified wallets, as reported by Whale Alert.
Further analysis has confirmed that Ripple was the sender of these funds, with the recipient being Evernorth, a company backed by Ripple that is currently preparing for a public listing. Blockchain data indicates that Evernorth's wallet now holds over 261.9 million XRP, suggesting a substantial and ongoing accumulation of tokens.
The scale and timing of this transfer are particularly noteworthy, appearing to be a coordinated move between Ripple and Evernorth. Although neither company has issued a public statement regarding the transaction, this transfer aligns with previous announcements detailing Evernorth's objective 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 wallet https://t.co/ExDrQTPxqY
— Whale Alert (@whale_alert) October 23, 2025
Evernorth’s Expanding Role in the XRP Ecosystem
Evernorth, established with the financial backing of Ripple, is strategically positioning itself as a conduit between traditional financial markets and the burgeoning digital asset economy. The company has announced its intention to go public through a $1 billion SPAC merger.
The capital raised from investors is earmarked for the acquisition and management of XRP holdings. By establishing and maintaining an extensive treasury, Evernorth aims to bolster XRP liquidity and broaden institutional access to the asset.
Ripple's transfer of over 200 million XRP directly supports these objectives. Other significant contributions to Evernorth's treasury include a transfer of 50 million XRP from Ripple executive Chris Larsen, and a commitment of $200 million from SBI Holdings, a long-standing supporter of XRP.
Market Significance for XRP
Market analysts consider this development a positive indicator for XRP. The consolidation of substantial XRP amounts into a corporate treasury can effectively reduce the circulating supply, while simultaneously fostering a more regulated environment for participation in the asset.
As Evernorth operates as a corporate entity subject to public disclosure requirements, its activities are expected to provide institutional investors with a transparent avenue for engaging with XRP markets. This strategic move also underscores Ripple's ongoing efforts to integrate XRP with institutional financial systems.
By leveraging Evernorth, Ripple can expand XRP's utility in areas such as liquidity provision, lending, and cross-border settlement applications, without directly overseeing these operations. This division of responsibilities enhances operational clarity and establishes Evernorth as a specialized entity dedicated to XRP deployment.
Evernorth's accumulating balance suggests that its treasury operations are actively progressing. Should the company proceed with its planned public listing and subsequent market acquisitions, XRP could experience heightened institutional visibility and increased demand.