Evernorth’s Massive XRP Transfer Fuels Speculation Ahead of Nasdaq Debut
Whale alert: A nine-figure XRP shuffle triggers market chatter.
Just days before Ripple's anticipated Nasdaq listing, Evernorth moves enough XRP to fund a small country's CBDC experiment—because what's crypto winter without some good old-fashioned pre-exchange theatrics?
The move:
- 250M XRP transferred from Evernorth to undisclosed wallets
- Transaction timing raises eyebrows among chain analysts
- Market reacts with 5% price volatility within the hour
Behind the scenes: Institutional players appear to be positioning for what could either be a strategic play or another case of 'buy the rumor, sell the news'—Wall Street's favorite crypto parlor trick.
Closing thought: When traditional finance meets crypto, expect spreadsheet warriors to suddenly become blockchain sleuths...right until the SEC filing drops.
TLDR
- Evernorth transfers 126M XRP worth over $280M ahead of Nasdaq listing
- New wallet created for XRP transfer using BitGo custody services
- Evernorth now controls over 473M XRP valued at more than $1B
- Ripple-backed Evernorth prepares for merger with Armada Acquisition Corp II
- XRP price drops as trading volume and leveraged positions decline
Evernorth Holdings has transferred 126.7 million XRP, valued at over $280 million, to a new wallet. The move, flagged by blockchain tracker Whale Alert, is creating buzz in the market. As Evernorth prepares for its Nasdaq debut, the transfer is drawing attention.
🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 126,791,448 #XRP (280,200,797 USD) transferred from unknown wallet to unknown wallethttps://t.co/C3qJfwTRVW
— Whale Alert (@whale_alert) November 6, 2025
Evernorth Reorganizes XRP Holdings
On November 5, Evernorth moved over 126 million XRP to a newly created wallet. This wallet uses BitGo custody services, signaling a potential strategic shift within the company. The transfer comes as Evernorth reorganizes its XRP holdings ahead of its Nasdaq listing.
The MOVE reflects Evernorth’s ongoing internal treasury adjustments. The company still holds more than 261 million XRP in its primary wallet. This reshuffling is part of the company’s preparations as it merges with Armada Acquisition Corp II.
Evernorth’s total XRP holdings now exceed 473 million, valued at over $1 billion. The firm is positioning itself as the world’s largest XRP treasury. Ripple, which backs Evernorth, will send the XRP to the company in exchange for XRPN shares post-merger.
XRP Price Drops Despite Positive Ripple News
Evernorth’s large XRP transaction occurs amidst a broader market downturn. Despite Ripple’s positive progress, including a $500 million funding round, XRP’s price has fallen. The coin dipped below $2.20, reflecting a broader trend of declining interest from short-term traders.
XRP trading volume shrank by over 12%, signaling weaker market activity. Futures data from Coinglass shows a decline in Leveraged positions, with open interest dropping by nearly 5%. This decline in liquidity comes even as Evernorth moves toward its merger and Nasdaq listing.
With Evernorth’s transfer and Nasdaq listing on the horizon, all eyes remain on the company’s next steps. The reshuffling of XRP holdings is not expected to lead to immediate market manipulation. However, the upcoming Nasdaq listing could generate more interest in Evernorth and its XRP holdings.
