Ripple executed a significant escrow move on October 2 by locking up 700 million XRP. Whale Alert, a blockchain tracker, flagged two new transactions involving a staggering amount of XRP in a Thursday tweet. Notably, the shifted XRP tokens were worth approximately $2.08 billion.
Ripple Moves 700M XRP to Escrow Account
The transaction occurred at approximately 04:29 (UTC) on Thursday, with the sending address “rN8pqR” transferring 700 million over two transactions to the escrow account. It sent 200 milion XRP first to the receiving address before the subsequent 500 million XRP.
🔒 🔒 🔒 🔒 🔒 🔒 🔒 🔒 🔒 🔒 500,000,000 #XRP (1,481,300,995 USD) locked in escrow at #Ripplehttps://t.co/t0buJJo0mR
— Whale Alert (@whale_alert) October 2, 2025
For the uninitiated, the escrow lock reduces near-term selling pressure and reinforces Ripple’s ongoing supply mechanism. Historically, these events often signal reduced liquidity risk and tighter market availability.
The locked XRP were unused tokens from the previous 1 billion tokens unlocked during the last month. This mechanism exists to keep the amount of XRP in circulation low, potentially driving scarcity, demand, and consequently, the asset’s price. Notably, Ripple has not yet unlocked this month’s 1 billion XRP tranche.
Growing Whale Activity
Ripple’s re-escrow coincides with the whale activity around XRP. Market analyst Ali Martinez highlighted that large holders acquired significant volumes of XRP recently. According to Santiment data, whales purchased around 250 million XRP tokens in just 48 hours.
The surge in accumulation suggests heightened interest from influential market players. Such movements often generate speculation about potential shifts in supply dynamics.
XRP Price Eyes $4 as Bullish Pattern Forms
Meanwhile, XRP has been showing steady price movements within a triangular pattern on the daily chart. The formation suggests pressure building before a breakout. Market analyst Alex Clay noted the completion of a bullish pennant, which often signals continuation.
The chart shows XRP consolidating between $2.80 and $3.00. A downward resistance line has held back further growth in recent weeks. At the same time, a horizontal support level is keeping prices stable. This pattern often precedes a sharp upward move.
According to the projection, a breakout could push XRP toward the $4.00 mark. Traders should watch for a move beyond the upper trendline, as it would confirm stronger momentum.
The XRP price has surged by over 2% in the past 24 hours following the broad market rally. Currently, the price is around $2.98, with a market cap of $178 billion.
The trading volume has surged by 12% to $6.3 billion, indicating strong market interest. Moreover, this latest rally has pushed the weekly and monthly gains to 5% and 7%, respectively.
Evans Kelvin
