Evernorth, a brand new XRP treasury agency, has to this point raised 261 million XRP tokens on its journey to determine the most important XRP treasury on this planet.
Recall that, on Oct. 20, Evernorth, a digital asset firm based by former Ripple govt Asheesh Birla and backed by Ripple, revealed plans to merge with Armada Acquisition Corp II, a particular objective acquisition firm.
As reported by The Crypto Fundamental, the merger will wrap up within the first quarter of 2026, with the mixed firm debuting on Nasdaq below the ticker XRPN. By way of this deal, Evernorth plans to safe funding from buyers comparable to Ripple, SBI, Pantera Capital, Kraken, GSR, and Ripple co-founder Chris Larsen to determine the world’s largest XRP treasury.
Particularly, information from XRPScan, an XRPL explorer, confirms that the Evernorth (1) handle, activated by BitGo self-custody on Oct. 17, has obtained precisely 261.919 million XRP price over $639 million as of press time.
The handle obtained these tokens between Oct. 20 and 24, with a number of entities contributing their quota. Among the many contributors are Ripple Chairman Chris Larsen, Ripple Labs, American trade Uphold, and a pockets labeled as Jana.
Notably, Larsen was the primary to switch to the handle, shifting 50 million XRP to Evernorth on Oct. 20 at 15:40 UTC. This transaction first triggered selloff fears following a disclosure from CryptoQuant analyst Maartunn, however The Crypto Fundamental confirmed that the fund stream was truly a part of the Evernorth fundraiser marketing campaign.
After Larsen, Uphold transferred roughly 200K XRP to the Evernorth handle on Oct. 21 at 09:49 UTC. Following the Uphold transaction, Ripple moved 319,095 XRP to Evernorth on Oct. 23 at 16:11 UTC after which despatched a further 211 million XRP at 16:48 on the identical day, totaling 211.3 million tokens. In the meantime, the Jana handle transferred roughly 300K XRP in two transactions on Oct. 23.
Present Holdings Not A part of the $1B Fundraiser
It bears mentioning that the whole 261 million XRP obtained by Evernorth to this point have been in XRP tokens, with no contributor sending stablecoins. In consequence, critics like the self-acclaimed “Rip-off Detective” have argued that the fundraising for the XRP treasury is not going to result in any shopping for strain on XRP, since Evernorth is not going to be buying a lot of the tokens.
Nonetheless, XRP neighborhood determine WrathofKahneman (WOK) identified that the XRP contributions from Ripple and Larsen aren’t a part of the proposed $1 billion in money that Evernorth plans to leverage for the XRP purchases.
#Ripple & Larsen’s 350m #XRP are separate from the $1b money raised to purchase XRP by Evernorth. It is the starter equipment.
$200m from SBI,
$200m elective from Ripple,
$600m from PIPE/public buyers make up the $1 billion, which can be used to buy XRP inside 10 days after the… pic.twitter.com/0AWk1WFOVD— WrathofKahneman (@WKahneman) October 22, 2025
In line with WOK, the $1 billion fundraiser will comprise $200 million from Japanese monetary big SBI Group, an elective $200 million contribution from Ripple, and $600 million from public buyers. Curiously, SBI has already formally confirmed its $200 million contribution.
