Ripple has announced plans to lock 126,791,458 XRP tokens, valued at approximately $305 million, as part of a strategic equity exchange in the Evernorth–Armada Acquisition Corp. II merger. This move, detailed in a recent SEC filing, involves using XRP to secure company shares, highlighting Ripple's strategy of leveraging its cryptocurrency for equity partnerships. The XRP community, including notable figure Chad Steingraber, has speculated that such actions could reduce the circulating supply of XRP, potentially impacting its long-term value. Ripple's chairman has committed 50 million XRP to the deal, aligning with the company's broader objectives of enhancing XRP's role in treasury management and tokenized assets.