Rypien officially signed with the Broncos as an undrafted free agent Monday, Nicki Jhabvala of The Athletic reports.
Rypien's contract apparently features a six-figure guarantee, which is a significant amount for an undrafted player. Joe Flacco and second-round pick Drew Lock should begin the season as the team's top-two quarterbacks, while Rypien, out of Boise State, is likely to be in direct competition with Kevin Hogan and Garrett Grayson.