With the new XRP treasury firm Evernorth planning an IPO next year, a market expert has suggested that the resulting purchases could lead to an XRP supply shock.

Software engineer and XRP community figure Vincent Van Code made this assertion on X while discussing the potential impact of Evernorth’s emergence on XRP price direction.

Evernorth’s Decision to Purchase XRP

For context, Evernorth, a new Ripple-backed company, announced on Oct. 20 that it would form a merger with Armada Acquisition Corp II, a special purpose acquisition company (SPAC) with the aim of going public under the “XRPN” ticker and raising $1 billion to create the largest XRP treasury.

Notably, reports confirmed Ripple would contribute to the fundraiser alongside its co-founder Chris Larsen, but these contributions were all in XRP, and not fiat. In fact, The Crypto Basic found nine days later that Evernorth had already received $1 billion worth of XRP, but all contributions were in XRP, not fiat.

Expectedly, this raised questions about the impact of the strategy on the XRP price. For context, Evernorth raising fiat and leveraging the cash to purchase XRP on the open market could trigger massive buying pressure, contributing to bullish price movements. However, the recent XRP-denominated contributions are not capable of having such an impact.

“You Haven’t Not Seen Supply Shock Yet”

Amid the concerns, XRP community figures have insisted that the fundraising for procuring XRP on the open market would actually happen later, possibly leading to the anticipated bullish impact. For one, SBI has already announced an investment of $300 million in cash, not XRP.

In his commentary, Vincent Van Code attempted to explain how Evernorth’s going public will impact XRP price. He highlighted that the next step for the new company is to go public through an IPO. The firm has already confirmed this, setting Q1 2026 for the conclusion of its merger. 

According to Van Code, this IPO will likely raise billions of dollars for the company. He suggests that they will leverage this cash for purchasing XRP in the open market. For context, such an event will possibly exert pressure on the existing XRP supply, which many experts believe is already declining.

In such a scenario, the most logical market response is a supply shock. “You haven’t seen supply shock yet,” Van Code teased, attempting to highlight the possible extent of the large-scale purchase.

According to him, the Evernorth development, which market commentator Nietzbux already believes is 100% bullish for XRP, and the launch of XRP ETFs could trigger an unprecedented supply shock in the XRP market. However, Van Code admitted that he is not sure of the timeframe.

Ripple’s string of high-value acquisitions continues to spark discussion about the company’s ultimate goals and why a higher XRP price may be crucial to its long-term success.

This week, Ripple CEO Brad Garlinghouse highlighted XRP’s significance while announcing the completion of Ripple’s $1.25 billion acquisition of Hidden Road, now rebranded as Ripple Prime.

The deal marks Ripple’s fifth major acquisition in roughly two years. It followed GTreasury ($1B), Rail ($200M), Standard Custody, and Metaco ($250M). 

Together, these moves echo Ripple’s ambition to become a dominant player in global finance, spanning stablecoin payments, custody, prime brokerage, and liquidity management.

“XRP is at the core of everything Ripple does,” Garlinghouse said, reminding the community that despite the introduction of the RLUSD stablecoin, the company’s ecosystem continues to revolve around XRP.

Ripple President Monica Long also confirmed that Ripple Prime will explore integrating XRP alongside RLUSD as collateral within its brokerage offerings.

Analyst: “Ripple and XRP Go Hand in Hand”

Prominent XRP analyst and community figure CrediBULL emphasized that Ripple’s success is fundamentally tied to the value of XRP.

He noted that with Ripple controlling roughly 40 billion XRP tokens that will gradually enter circulation over the next ten years, the company has a strong incentive to ensure the asset thrives.

In parallel, CrediBULL explained that Ripple Labs benefits directly from a stronger XRP valuation. “They go hand in hand,” he said, highlighting that the success of the token and the company are closely connected.

In other words, as XRP’s value rises, it becomes easier for Ripple to generate additional value for the company. This creates a mutually reinforcing cycle between the asset and the firm.

"I’m reminding you all that $XRP sits at the center of everything Ripple does."

Said this before and I'll say it again.

When an entity holds some 100B of a crypto asset that will slowly be released to them from an automated escrow over the next decade plus, they will do… https://t.co/053HPNoRvk

— CrediBULL Crypto (@CredibleCrypto) October 24, 2025

This argument aligns with the financial reality that Ripple holds nearly $106 billion worth of XRP, including 35 billion XRP in escrow and about 5 billion in spendable wallets. Every $2 increase in XRP’s price would theoretically add around $80 billion to Ripple’s balance sheet.

Ripple’s Strategy Has Always Been About Maximizing XRP Value

Ripple’s commitment to increasing XRP’s value is not new. In fact, the company’s CTO David Schwartz stated as far back as 2017 that Ripple “spends money in a way that allows the company to get maximum value for its stash of XRP.”

Schwartz explained that if the company had an opportunity to invest $100 million to raise XRP’s price by even one cent, it would consider it worthwhile. This philosophy remains intact today.

Ripple’s growing portfolio of acquisitions and its push into institutional custody, tokenization, and liquidity services all support this objective. Specifically, these moves expand real-world XRP utility while strengthening Ripple’s corporate value.

Ripple’s Endgame: Institutional Liquidity and XRP Price Growth

While Ripple avoids discussing price targets due to regulatory caution, many analysts believe its business model inherently depends on a higher XRP valuation.

As one community analyst put it, “It’s always been about XRP price, but Ripple just cannot say it.”

Ripple’s strategic partnerships with SBI Holdings, Kraken, GTreasury, and Evernorth reinforce this notion. 

The $1 billion Evernorth initiative, designed to establish the world’s largest corporate XRP treasury, mirrors MicroStrategy’s Bitcoin accumulation model and could provide sustained demand for XRP in the years ahead.

What If XRP Hits $10?

At an XRP price of $10, Ripple’s holdings would be valued at over $4 trillion. This could instantly transform the company into one of the world’s most valuable financial entities.

Such a valuation would not only bolster Ripple’s balance sheet but also give it exceptional leverage in global finance. In particular, it would enable further billion-dollar acquisitions, ecosystem investments, and liquidity infrastructure.

While this scenario remains speculative, it highlights why Ripple’s long-term strategy, from acquisitions to stablecoin integration, may ultimately depend on a significantly higher XRP price.

As critics continue to bash XRP amid the Western Union–Solana deal, a new voice has entered the debate.

XRP supporter Dom Kwok, co-founder of EasyA, argues that the market’s focus is too narrow. He claims that headlines celebrating Western Union’s decision to launch a stablecoin on Solana overlook a much larger structural shift underway at Ripple.

In his view, the conversation shouldn’t revolve around Western Union’s “billions,” but around Ripple’s growing exposure to trillions in global payment and liquidity flows.

Trillions, Not Billions

Kwok noted that Western Union processes billions in annual volume, making its selection of Solana notable but not transformative.

According to him, Ripple is quietly aligning itself with a financial footprint several orders of magnitude larger. And unlike partnership pilots that can end abruptly, Ripple’s acquisitions give the company direct ownership and deeper influence over massive financial pipelines.

Kwok highlighted three key purchases from the past year:

• Hidden Road, a global prime brokerage that clears $3 trillion annually.
• GTreasury, a global treasury management firm powering trillions in yearly payment flows across 160+ countries.
• Rail, a fast-growing payments platform that handles 10% of all stablecoin-based payment activity worldwide.

Essentially, ownership is key. Unlike partnerships, which can dissolve when corporate strategies change, acquisitions give Ripple long-term control over how these new infrastructures evolve.

XRP as the Settlement Layer

Central to Kwok’s thesis is the idea that XRP sits “at the center of it all.”

With Ripple taking full control of platforms processing multi-trillion-dollar liquidity flows, the company has both the ability and the incentive to migrate settlement activity toward the XRP Ledger over time.

“Don’t Lose Sight of the Forest for the Trees”

Meanwhile, critics commenting on the Western Union–Solana deal are questioning XRP’s relevance beyond Ripple.

Specifically, market commentator Scott Melker questioned its role in today’s payments ecosystem, as Western Union chose Solana over the XRP Ledger, despite having tested the XRP network for years.

Western Union will launch its USDPT stablecoin on Solana in 2026 to enable global stablecoin transfers and cash-outs. The company could attract over $100 billion in annual cross-border follow to Solana.

For Kwok, the focus should be on the trillions of dollars Ripple plans to handle, not billion-dollar flows.

“Don’t lose sight of the forest for the trees,” he remarked, as Ripple assembles the machinery to push XRP into the heart of trillion-dollar institutional settlements.

“Trillions, not billions,” Kwok said in closing.

Other industry leaders share Kwok’s view. Flare CEO Hugo Philion previously dismissed concerns that Western Union’s Solana partnership impacts Ripple or the XRPL. 

He stressed that Ripple is targeting trading and asset management, as demonstrated by its acquisitions of GTreasury and Hidden Road (Ripple Prime).

Moreover, Flare complements Ripple by expanding XRP’s DeFi and cross-chain capabilities.

A growing number of voices in the XRP community now believe the coin will also become a primary means of storing wealth.

The latest commentary comes from software engineer Vincent Van Code, who suggested that “a time will come when XRP and the XRP Ledger are just where you keep most of your wealth.”

His remark comes at a moment when conversations around XRP’s long-term relevance, utility, and role in global finance are intensifying.

XRP as a Treasury Asset

Van Code’s comment reflects a broader view emerging among XRP builders and analysts. They believe the asset is shifting from a simple payment bridge to a core store of value within the XRPL ecosystem.

This view aligns with Ripple CTO David Schwartz, who argues that XRP’s real strength is in letting users act as their own banks.

He describes XRP as a neutral, borderless asset with no counterparty risk, no chance of being frozen, and no need for intermediaries. These qualities make it well-suited for long-term wealth storage, according to proponents.

Schwartz’s Defense of XRP’s Unique Position

The debate grew after Western Union chose Solana instead of the XRP Ledger to launch its stablecoin. Critics argued this showed XRP was losing relevance. Meanwhile, Ripple CTO David Schwartz disagreed, saying XRP’s true strength lies in its neutrality and independence.

He explained that the XRPL supports a financial system where users fully control their money, without middlemen, fees, or restrictions.

Schwartz contrasted this with stablecoins, which depend on central issuers and can be frozen or reversed. He also noted that while speculation currently drives most crypto value, he believes XRP’s long-term worth will come from its real-world utility.

XRP in Long-Term Wealth Protection

Furthermore, the idea of XRP as a “treasury asset” also mirrors views from other prominent community commentators.

Crypto educator Coach JV recently said he stores his family’s wealth in Bitcoin and XRP because both have fixed supplies and resist inflation.

With inflation eroding the dollar’s value by as much as 96% since 1913, he argues that deflationary assets like XRP will naturally attract long-term savers. Support for this thesis is growing:

• XRP has appreciated by over 65,000% in the past decade.
• Analysts like Zach Rector forecast XRP reaching $100, driven by economic instability and flight into alternative assets.
• Broader pressures, including inflation, job losses, and shifting Fed policies, are already driving more people toward borderless, fixed-supply assets.

Essentially, Van Code’s “treasury” comment reflects this belief that XRP could evolve into a trusted store of value as confidence in traditional systems declines.

Meanwhile, critics still question XRP’s future demand. Yet many now see it evolving from a bridge asset into a financial base layer where people and institutions could ultimately store their wealth.