A wallet labeled Ripple on Xrpscan sent 35 million XRP, worth $52,425,783, to an unlabeled address at 00:21 UTC on Oct. 2. The receiving wallet, opened in December 2024, routed 6.5 million XRP to a single downstream address through three payments within roughly two and a half hours, leaving about 28.6 million XRP in the first wallet. All three transfers used the same destination tag, a routing number that directs XRP Ledger payments to a customer or purpose within a shared address and is commonly used by exchanges and custodians. The wallets have no public labels, leaving control of the addresses unresolved. The same Ripple account also sent 25 million XRP on Oct. 1 and smaller payments ranging from 250,000 to roughly 3 million XRP on Sept. 30. The activity coincided with Ripple’s tenth 1 billion XRP escrow release of the year. Ripple usually returns most unlocked tokens to escrow; after the Sept. 1 release, it re-locked 700 million XRP, leaving roughly 32 billion XRP locked and typically putting 200 million to 300 million XRP a month into the market. Separately, U.S. spot XRP ETFs recorded $4.07 million in net inflows on Oct. 1. Franklin’s XRPZ accounted for $4.065 million, raising its lifetime inflows to $505 million, while Canary’s XRPC saw $3.18 million in outflows. The funds held total net assets of $1.695 billion against cumulative inflows of $1.794 billion. XRP traded near $1.52, up about 0.6% over 24 hours, compared with bitcoin’s 2.1% gain. Santiment’s crowd data showed a bullish-to-bearish ratio of 0.67. The broader XRP development to watch this week is Evernorth’s 473 million XRP treasury moving toward Nasdaq.