The Whale Alert platform reported that 400 million XRP tokens were withdrawn from an escrow wallet, with no information on the wallet's owner. This transaction differs from typical XRP escrow activities by Ripple Labs. Last month, a similar incident saw 500 million XRP tokens withdrawn from an undisclosed wallet.

Despite speculation around the wallet's identity, Ripple had previously locked 55 billion coins in escrow, releasing 1 billion monthly in multiple transactions. This strategy aims to regulate market dynamics, potentially impacting coin prices like XRP. A recent withdrawal of 800 million XRP also led to a price drop and subsequent increase in trading volume.

The recent 400 million coin withdrawal coincided with an XRP price surge. Currently, XRP is trading at $0.5318, up 2.01% in the last 24 hours.