EVERNORTH HOLDINGS TRANSFERS OVER 280 MILLION USD $XRP
Evernorth Holdings – a token treasury company linked with $XRP – has just transferred 126.79 million XRP (equivalent to 280 million USD) between two internal wallets on November 7. The receiving wallet was created just two days prior, managed by BitGo. After this transaction, Evernorth now holds approximately 473.27 million XRP, adding over 84 million XRP in the past week.
Despite the transaction occurring internally, the XRP Army community is buzzing due to the large volume. Many investors believe this could be a restructuring of assets or preparation for a major move by the company, as XRP is seeking to regain momentum after a period of stagnation.
Contrary to expectations, the price of $XRP has dropped over 4%, retreating to around 2.20 USD. Trading volume has decreased by about 12%, and the open interest in derivative contracts has also fallen by 5%, down to 3.34 billion USD. This indicates that the market is reacting cautiously, rather than anticipating an immediate uptrend.
Analysts suggest that Evernorth’s move may aim to enhance the security of the storage wallet or transfer tokens away from public wallets to reduce risk. However, some opinions suggest that the company may be preparing for a new strategic plan surrounding XRP, especially as institutional money begins to return to highly liquid blockchain assets.
Although the true purpose has not been disclosed, the movement of over a quarter billion USD worth of XRP by a large organization remains an important signal for the market. Investors need to continue monitoring whether this is a preparation for a significant event or just a routine internal reallocation.
