How Much XRP Is Evernorth Really Buying? The Confusion Is REAL 😱

So, guess what? XRP is making headlines again. But wait-before you get too excited-it’s not all crystal clear. You see, Ripple-backed Evernorth is planning to go public through a SPAC (yes, another one of those), and it wants to use the funds to build the “world’s leading institutional XRP treasury.” Sounds cool, right? But… the big question is: how much XRP are they actually buying? 🤔

Evernorth’s upcoming Nasdaq listing through a merger with Armada Acquisition Corp. II is supposedly gonna raise over $1 billion. But (oh yes, there’s a “but”) some folks are wondering how much of that cash will actually go toward buying XRP on the open market, versus being, well, gifted in-kind. I mean, who doesn’t love a little freebie? 💸

Wait, What’s Going On With Evernorth’s XRP Plan?🤷‍♀️

Enter ScamDetective (yes, that’s a thing), who decided to add some drama by tweeting that “most of the XRP in Evernorth will NOT be purchased” and that “only 14% of their total holdings at close will be purchased.” Apparently, the rest will be ‘contributed’ by other parties as some kind of…token donations? 🎁

According to this theory, only 14% of the supposed $1 billion XRP treasure chest would actually come from buying on the open market. The rest? Oh, just some ‘in-kind’ contributions. You can imagine how fast this sent XRP holders into a tailspin, panicking that Evernorth’s market impact might not be as grand as they thought. 💀

But wait, before you grab the popcorn and start writing a complaint letter to Evernorth, lawyer Bill Morgan swoops in like the hero we didn’t know we needed. He pointed out that the only confirmed ‘in-kind’ contribution was the 50 million XRP that Ripple co-founder Chris Larsen transferred. But don’t get it twisted-this is separate from the actual cash Evernorth is raising for open-market buys. 😏

Morgan went on to clarify that SBI Holdings’ $200 million investment was, in fact, CASH and will specifically be used for buying XRP from the open market once the deal closes. So, while ScamDetective might’ve gotten a little dramatic, it’s actually a guaranteed MINIMUM of 20% of the treasury that will be bought from the open market. 💅

And just in case we still have doubts, Morgan waved around an official document from SBI Holdings, which clearly states that the money will be used for open-market XRP acquisitions. So, no, the treasury won’t be all “token contributions.” Nice try, ScamDetective. 😜

Let’s Break Down The Real Numbers, Shall We? 📉

So here’s the deal: Evernorth is aiming to raise over $1 billion in total. If they actually use the bulk of those funds to buy XRP on the open market, we’re talking about a massive accumulation. At current prices, that’s somewhere around 415 million to 420 million XRP tokens. 💥 But hold up-until we get the official SEC filings and post-merger financials, all we can do is guesstimate. Sorry, no crystal balls here. 🔮

Either way, this will be another big step for the altcoin in the institutional world. As of now, XRP is trading at $2.41. So, yeah, get ready for some serious movement. 📈

2025-10-24 01:24

Wait, What’s Going On With Evernorth’s XRP Plan?🤷‍♀️

Let’s Break Down The Real Numbers, Shall We? 📉

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