Ripple co-founder Chris Larsen recently sold 50 million XRP, worth roughly $120 million, as Ripple-backed company Evernorth prepares for a major SPAC merger. This move aims to build a significant XRP treasury fund to support Evernorth’s ambitious business plan and potentially impact the cryptocurrency market’s stability. Larsen’s sale comes amid a flurry of financial maneuvers from Evernorth, which is targeting $1 billion through a public offering. SBI Holdings has pledged $200 million in support of this venture. The transaction, coupled with Evernorth’s expansion plans, has generated some market movement for XRP. However, it’s important to note that despite past instances of insider sales and subsequent volatility, XRP has maintained relatively stable market prices over time.