Ripple Moves $52.4 Million in XRP Amid Escrow Release

Ripple, the company behind the XRP cryptocurrency, moved 35 million XRP worth approximately $52.4 million to an unlabeled wallet early Friday morning. The transaction was detected by onchain sleuth Whale Alert and recorded on the XRP Ledger at 00:21 UTC on October 2. The sending account still holds roughly 42.9 million XRP post the move.

The receiving wallet, opened in December 2024, did not sit on the coins for long and made three outbound payments to a single address within roughly two and a half hours. The three payments carried the same destination tag, leaving about 28.6 million XRP in the first wallet, and the downstream address holds roughly 6.5 million XRP, almost exactly what it just received.

Ripple's monthly schedule typically involves releasing 1 billion XRP from escrow, and on October 1, the company unlocked 1 billion XRP. Traders are watching to see how much of this goes back into escrow. In other XRP news, US spot XRP ETFs took in a net $4.07 million on October 1, with Franklin's XRPZ adding $4.065 million.