Half a Billion XRP Worth Over $161,000,000 Leaves Crypto Exchange Kraken: On-Chain Data CryptoBlog

On-chain data reveals that an XRP whale transferred over $160 million worth of XRP from a top crypto exchange.

According to blockchain tracker Whale Alert, XRP worth around $161.2 million was moved from the Kraken crypto exchange to an unknown wallet.

“500,000,000 XRP (161,221,368 USD) transferred from Kraken to an unknown wallet.”

The transaction Cost 0.000012 XRP or approximately $0.00000395 on the XRP Ledger. The XRP Ledger or simply XRPL is a decentralized blockchain that uses XRP as its native cryptocurrency.

XRP is trading at $0.3295 at the time of writing.

According string data from the receiving wallet, the 500 million XRP deposit is the highest amount received by the address since a November 2021 infusion of 300 million XRP from Kraken. All other transactions recorded by the address between that date and today have involved amounts of one XRP or less.

The massive transaction comes days after analytics firm Santiment revealed that XRP whale transactions hit a three-month high. Santiment said on-chain XRP transactions valued at over $100,000 hit levels last seen in May. The analytics platform also revealed that sentiment on XRP hit a four-month high.

“XRP is seeing notable whale activity, as well as great optimism, in Friday’s closing hours. We saw an XRP trading spike of over $100,000 that hasn’t been matched since May 13. Additionally, sentiment is at its highest level since April.”

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