Larsen’s 50M XRP to Evernorth: Treasury Investment, Not Dump
Ripple chairman Chris Larsen moved 50 million XRP (around $120 million) to Evernorth’s treasury on October 20. Critics called it a market dump. On-chain data and legal expert Bill Morgan confirm the transfer funded Evernorth, a treasury platform backed by Ripple and SBI Holdings, not a sell-off. Evernorth plans to acquire and hold XRP from open markets. Larsen’s shift from a past 3.15 billion XRP holding at under $0.01 to around 2.53 billion XRP (over $5 billion) today underscores a long-term funding strategy. Analysts point to Jed McCaleb’s historic 9 billion XRP sales (2014–2022) to show market resilience. Traders should note such large transfers often support treasury funding and can boost XRP liquidity and stability, reflecting growing institutional demand rather than downward price pressure.
Bullish
This news is bullish for XRP. In the short term, clarifying that the 50M XRP transfer was for treasury funding, not a sell-off, removes immediate sell-pressure fears. On-chain transparency and expert commentary reassure traders. In the long term, Evernorth’s commitment to buying and holding XRP supports liquidity and price stability. Combined with growing institutional demand, this strategic move underscores confidence in XRP’s future value and may attract further institutional participation.