Large XRP holders transferred almost 1.6 billion XRP to Binance over 30 days, the highest level since March, as XRP rebounded 6% in 24 hours and briefly touched $1.40. The recovery followed a sharp selloff after the US Senate failed to advance the CLARITY Act. Exchange deposits increase tokens immediately available for trading but do not by themselves establish that whales intend to sell; the flows can also reflect liquidity management, trading activity or portfolio repositioning. XRP-focused treasury management company Evernorth reportedly raised $30 million in convertible notes from South Korean institutional investor NH Investment & Securities, contingent on completion of its planned SPAC merger. Evernorth plans to use the proceeds to buy spot XRP before listing on Nasdaq under the ticker XRPN.