XRP Market Reacts to Chris Larsen’s 50 Million Token Sale Amid Evernorth’s $1B SPAC Merger News
Ripple co-founder Chris Larsen has made headlines with the sale of 50 million XRP tokens, worth approximately $120 million, marking his first major transaction since July 2025. This move has sparked speculation about his confidence in XRP's near-term prospects. Meanwhile, Ripple-backed Evernorth is progressing toward a $1 billion SPAC merger, adding another LAYER of intrigue to the XRP ecosystem. The market is closely watching these developments, as they could signal significant shifts in XRP's valuation and adoption trajectory.
Chris Larsen Offloads 50 Million XRP as Ripple-Backed Evernorth Prepares $1B SPAC Merger
Ripple co-founder Chris Larsen has sparked market speculation with the sale of 50 million XRP tokens, valued at approximately $120 million. The transaction, executed within an hour, marks Larsen's first significant XRP MOVE since July. Given his pivotal role in Ripple's ecosystem, the sale raises questions about near-term confidence in the token.
Concurrently, Ripple-backed Evernorth is advancing toward a Nasdaq debut via a $1 billion SPAC merger with Armada Acquisition Corp II. Led by former Ripple executive Asheesh Birla, the firm aims to establish the largest public XRP treasury under the ticker $XRPN. Evernorth has secured $200 million from institutional heavyweights including SBI Holdings and Pantera Capital, positioning XRP for unprecedented institutional adoption.
The SPAC structure provides Ripple with a public vehicle to manage XRP as a liquid reserve, leveraging GTreasury's institutional network. Analyst WrathofKahneman highlights this as a strategic inflection point for XRP's utility beyond retail markets.
XRP Potential 55x Rally in 2025 Hinges on ETF Approval
Speculation is mounting around XRP's potential for a 55-fold surge in 2025, contingent upon regulatory approval for an exchange-traded fund. Analysts point to technical indicators suggesting bullish momentum, with key support levels holding between $1.70 and $2. A breakout above $3.30 could propel the token toward $5 or even $10, echoing patterns observed during its 2017 rally.
The cryptocurrency's fate appears tied to the SEC's decision on 13 pending ETF applications from major financial institutions. Meanwhile, investors are diversifying into altcoins like MAGACOIN FINANCE, which demonstrate independent growth potential irrespective of XRP's performance.
Ripple’s Evernorth Project Could Spark the Next Institutional XRP Boom
Ripple-backed Evernorth Project is poised to revolutionize institutional access to XRP through a $1 billion SPAC merger with Armada Acquisition Corp II. The initiative aims to create the world's largest institutional XRP treasury, functioning as a regulated vehicle akin to traditional finance giants.
Major investors including SBI Holdings, Pantera Capital, and Kraken lend credibility to the venture. Ripple co-founder Chris Larsen has committed 50 million XRP to the project, signaling strong insider confidence. The SPAC route provides Wall Street with a compliant on-ramp to crypto exposure without direct asset ownership.
XRP Theft: Investor Loses $3M After Wallet Breach
A U.S. cryptocurrency investor suffered a $3 million loss after hackers compromised an Ellipal wallet holding approximately 1.2 million XRP. Blockchain investigator ZachXBT traced the stolen funds through the TRON blockchain via cross-chain bridge Bridgers—a common tool for obscuring illicit transactions.
The laundered assets flowed through Huione, a Southeast Asian OTC network recently sanctioned by the U.S. Treasury for alleged ties to cybercrime and human trafficking operations. The breach underscores growing vulnerabilities in self-custody solutions and cross-chain infrastructure.
ZachXBT initiated the probe after identifying the victim's wallet address from a viral YouTube video. The findings reveal a sophisticated laundering operation exploiting blockchain interoperability features.
XRP Tests Key Support Amid Co-Founder's $120M Token Sale
XRP hovers NEAR $2.40 as Ripple co-founder Chris Larsen's $120 million sell-off injects short-term caution into the market. The token now trades 18% below its July peak, with derivatives activity signaling brewing volatility.
Despite the insider selling, on-chain utility and ETF speculation could fuel a rebound if support holds. Trading volumes spiked 20% as buyers and sellers jockeyed for position ahead of major catalysts.
Ripple News: New XRP ETF Deadlines Revealed
The approval process for XRP exchange-traded funds (ETFs) faces significant delays due to the ongoing U.S. government shutdown. Originally slated for October, the Securities and Exchange Commission (SEC) has paused all actions, pushing potential approvals to late 2025.
Even after government operations resume, the SEC may require an additional four weeks to address backlogs, complete legal reviews, and finalize approvals. "ETF likely approval is now late Nov to end of Dec," noted a crypto expert.
Analysts suggest the SEC’s updated framework—eliminating the 19b-4 requirement and introducing a generic listing standard—could accelerate reviews. The streamlined S-1 filing process may shorten timelines for XRP and other crypto ETFs.
Major asset managers like Grayscale, 21Shares, and Bitwise await SEC decisions, with initial deadlines delayed from mid-October.
