- Chris Larsen confirms $120M XRP investment in new Evernorth project.
- On-chain data reveals 50M XRP transfer to Evernorth wallet.
- XRP community reacts as Larsen boosts DeFi integration through Evernorth.
Ripple co-founder Chris Larsen has officially confirmed a major 50,000,000 XRP transfer, valued at approximately $120 million, following widespread on-chain speculation earlier this week.
According to Larsen, the funds were directed toward Evernorth, a newly launched XRP-based data asset technology (DAT) company aimed at expanding XRP’s role in capital markets and decentralized finance (DeFi).
The transaction, which initially confused investors, was visible on-chain and verified by Bithomp and XRPL Services, showing that Larsen’s wallet executed three payments to Evernorth. The confirmation from Larsen himself has now clarified that the move was an investment, not a sell-off.
Also Read: David Schwartz Gives XRP Community Update About His Next Move After Leaving Ripple CTO Position
Larsen Confirms Investment in Evernorth
In his announcement, Larsen congratulated the Evernorth team on its official launch, stating that the company “fills the missing link in XRP capital markets and XRP usage in DeFi products.” He added that he was “proud to invest 50M XRP in the firm,” acknowledging that the on-chain community might have noticed the wallet activity tied to the transfer.
This statement aligns with earlier reports from Krippenreiter, who had speculated that the XRP founder had redirected funds toward an XRP-focused data company. On-chain data now confirms that this company is indeed Evernorth, and the transfer represents a direct strategic investment to boost XRP adoption across decentralized markets.
Market Indicators Reflect Investor Caution
Meanwhile, XRP’s price action shows lingering caution among traders. As of the latest data, XRP trades around $2.41, marking a 3.22% daily decline. Technical indicators reveal resistance near $2.63 and support close to $2.09, suggesting a tightening price range.
Source: Tradingview
The Relative Strength Index (RSI) stands at 39.62, reflecting weak momentum and a neutral-to-bearish outlook. This indicates that while selling pressure persists, XRP has not yet reached oversold conditions.
Community Welcomes Clarity After Speculation
The confirmation from Chris Larsen has put to rest earlier concerns that the large on-chain movement was a signal of cashing out. Instead, it marks a substantial reinvestment into the XRP ecosystem through a project designed to deepen liquidity and enhance the asset’s integration into DeFi.
With Evernorth now officially launched and backed by one of Ripple’s co-founders, the XRP community sees this as a significant milestone for the network’s long-term expansion, reinforcing its potential role in the evolving digital asset market.
Also Read: Pro-Crypto Lawyer Slams Critic Who Claims Ripple’s Chairman Dumped XRP on Retail Investors
