XRP Market Dynamics: Larsen’s Strategic Sale Amid Evernorth’s $1B SPAC Ambitions

In a significant market development on November 4, 2025, Ripple co-founder Chris Larsen executed a substantial transaction involving 50 million XRP tokens, valued at approximately $120 million. This marks Larsen's first major XRP movement since July, sparking intense speculation among cryptocurrency analysts and investors. The rapid execution of this sale within a single hour has raised questions about potential strategic repositioning within Ripple's leadership circle, particularly given Larsen's foundational role in the XRP ecosystem. Concurrently, Ripple-backed Evernorth is advancing toward a landmark $1 billion SPAC merger, creating a complex narrative for XRP's near-term trajectory. While Larsen's sale might suggest temporary caution, the substantial institutional commitment represented by Evernorth's SPAC merger indicates strong underlying confidence in Ripple's technology and market position. This dual development presents both challenges and opportunities for XRP investors, balancing short-term uncertainty against long-term growth potential. The cryptocurrency market is closely watching how these parallel events will influence XRP's price action and adoption metrics in the coming weeks, with many analysts maintaining a bullish outlook based on Ripple's expanding enterprise partnerships and regulatory clarity achievements.

Chris Larsen Offloads 50 Million XRP as Ripple-Backed Evernorth Prepares $1B SPAC Merger

Ripple co-founder Chris Larsen has sparked market speculation with the sale of 50 million XRP tokens, valued at approximately $120 million. The transaction, executed within an hour, marks Larsen's first significant XRP MOVE since July. Given his pivotal role in Ripple's ecosystem, the sale raises questions about near-term confidence in the token.

Meanwhile, Evernorth, backed by Ripple, is advancing toward a Nasdaq listing via a $1 billion SPAC merger with Armada Acquisition Corp II. Former Ripple executive Asheesh Birla leads the initiative, which aims to create the largest public XRP treasury under the ticker $XRPN. The firm has already secured $200 million from prominent investors, including SBI Holdings and Pantera Capital, signaling institutional momentum for XRP.

Larsen's personal investment of 50 million XRP into Evernorth aligns with his recent wallet activity, suggesting strategic positioning rather than outright divestment. The SPAC structure provides Ripple with a public vehicle to manage XRP reserves through institutional channels, potentially reshaping the token's liquidity dynamics.

Ripple Chairman's XRP Transfer Sparks Debate Amid Community Pushback

XRP community leaders have challenged assertions by CryptoQuant analyst Maartunn that Ripple Chairman Chris Larsen dumped 50 million XRP on retail investors. The controversy stems from a series of wallet transactions flagged on social media, with prominent figures dismissing the claims as misleading.

Market observers note the incident highlights ongoing tensions between blockchain analytics firms and cryptocurrency communities. The debate centers on interpreting large wallet movements—whether they represent strategic distributions or routine operational transfers by ecosystem participants.

Research Firm Highlights XRP's Institutional Momentum

Sistine Research, a digital asset analysis platform, asserts that XRP's trajectory is "extremely obvious" despite requiring patience. The firm points to growing institutional engagement from entities like GTreasury, Evernorth, and SBI Holdings as evidence of Ripple's strategic positioning for financial infrastructure transformation.

Market observers increasingly view XRP as a linchpin in Ripple's cross-border payment ambitions. The token's ecosystem expansion contrasts with its prolonged regulatory uncertainty, suggesting latent potential awaiting broader adoption cycles.

White House Signals Potential End to U.S. Government Shutdown, Implications for XRP ETF

The WHITE House has indicated a possible resolution to the ongoing U.S. government shutdown this week, with economic advisor Kevin Hassett expressing optimism. Hassett, a key figure in Trump's administration and a known blockchain advocate, highlighted the need to reopen federal agencies to facilitate smoother negotiations, including the reassessment of XRP ETF applications.

Hassett's remarks suggest that moderate Democrats may reach a consensus, paving the way for government operations to resume. His influence as a potential future Fed Chair and his substantial investments in cryptocurrency, including Coinbase, underscore the intersection of policy and digital asset markets during this critical period.