Ripple is set to transfer about 127 million XRP as part of its investment in the Evernorth Holdings merger, according to details from a recent U.S. SEC filing.
The move underscores Ripple’s growing use of XRP for strategic partnerships and corporate equity deals.
Ripple Converts XRP into Company Shares
The SEC filing shows that the XRP tokens, valued at around $305 million at the time of writing, will be locked and exchanged for shares in connection with the Evernorth–Armada Acquisition Corp. II merger.
XRP community analyst Chad Steingraber first drew attention to the filing in a Wednesday post on X. He described the move as part of a broader trend where Ripple leverages XRP in strategic deals rather than keeping the tokens idle.
According to Steingraber, this practice “is going to continue with other companies and governments until it’s gone — forever.”
His statement implies that Ripple’s ongoing pattern of using XRP for equity exchanges and partnerships could gradually reduce the token’s circulating supply, potentially leading to a supply shock in the long run.
Ripple Expands Corporate Partnerships
By converting XRP into company shares, Ripple strengthens ties with institutional and enterprise partners such as Evernorth, while also decreasing the amount of XRP in open circulation. This dual effect could help boost XRP’s long-term market value.
This isn’t the first time Ripple has used its XRP Ledger native token as an investment tool. The firm has previously deployed XRP in strategic acquisitions and fintech investments, including a major stake in Tranglo, a company that supports cross-border payments powered by the XRP Ledger (XRPL).
Ripple’s chairman has also pledged 50 million XRP of his own holdings toward the Evernorth investment per the document, reinforcing the company’s commitment to using digital assets for corporate growth.
Broader Strategy: XRP as a Financial Infrastructure Asset
Ripple’s approach shows its larger mission to position XRP as more than just a payment token. Through deals like this and its recent $1 billion acquisition of GTreasury, Ripple is steadily embedding XRP into treasury management, settlement systems, and enterprise liquidity solutions.
This evolution corresponds with Ripple’s vision of building a blockchain-based financial ecosystem where XRP plays a central role in real-time value transfer across industries.
The XRP community has responded positively to the developments, viewing the Evernorth deal as a bullish signal. Many believe the locking of large XRP amounts could make the asset deflationary over time.
At press time, XRP is trading at $2.52, up over 4% in the past 24 hours.
