7 Billion XRP Demand? Supply Crunch? Evernorth’s Wild Ride!

by

The world’s largest XRP treasure trove, backed by a guy named Ripple who probably has a pet dragon, is now trying to convince the SEC that XRP isn’t a security. Because, obviously, that’s the only way to get on Nasdaq.

In a recent report shared earlier today, the firm revealed it has filed a Form S-4 registration statement with the U.S. Securities and Exchange Commission (SEC) to list on the Nasdaq Stock Market. Because nothing says “trust us” like a 100-page document that’s basically a magic spell.

While the filing marks part of its planned business combination with Armada Acquisition Corp. II, it would trade under the ticker XRPN upon the approval of its application. Because “XRP” was too easy, right?

HOT Stories (But Not Really, Just a Slight Overreaction)

Ripple Prints $49 Million RLUSD as ‘North Star’ XRP Seeks Buyers Support; Shiba Inu (SHIB) Achieves Key Coinbase-Focused ETF Listing; Bitcoin Price Maintains $96,600 Outlook Amid Oil Spike on Hyperliquid – Morning Crypto Report

Fundstrat Boss Backs $250,000 Target for ETH

Evernorth spotlights XRP’s growing demand

Following its recent filing with the SEC, Evernorth spotlighted XRP’s growing demand as the asset continues to gain traction amid the broad crypto market resurgence. Because nothing says “I’m a genius” like pretending the market is a rollercoaster you’re riding backwards.

While it emphasized XRP’s significant outflows seen earlier this year, the firm has spotted a tightening supply dynamic for XRP. Because scarcity is the only thing more reliable than a cryptocurrency’s ability to crash.

Evernorth’s forecast came after noting that nearly 7 billion tokens were withdrawn from exchanges in February, marking the largest monthly outflow since November 2023. Because if you can’t trust a number, what can you trust? Your grandma’s advice? Probably not.

The firm further shared a brief analysis revealing that XRP supply on exchanges is shrinking as long-term holders increasingly accumulate the token in large quantities. Because nothing says “I’m a hodler” like hoarding tokens in a vault that’s also your cat’s litter box.

Per data showcased by Evernorth, it appears that sellable XRP supply has dropped to multi-year lows, signaling a massive upside trend in the price of the asset if demand persists. Because if demand persists, we’ll all be rich… or at least able to afford a decent cup of coffee.

XRP large holders swing into action 

In its report, Evernorth further highlighted that wallets holding between 1,000 and 100,000 XRP have surged to an all-time high of about 1.1 million. Because nothing says “I’m a serious investor” like holding 1,000 XRP in a wallet that’s also your grandma’s birthday present.

This suggests that the asset has continued to gain interest among investors who believe in its future potential and have stayed resilient even amid the prolonged market rally. Because resilience is just a fancy word for “I’m too stubborn to sell at a loss.”

At the same time, large holders were reportedly adding around 11 million XRP per day in early April, signaling sustained accumulation across the market. Because if you can’t outsmart the market, just buy more and hope it’s a pyramid scheme with better marketing.

Read More

2026-04-23 17:20