Half a Billion XRP Worth Over $161,000,000 Is Leaving Crypto Exchange Kraken: On-Chain Data
On-chain data reveals that an XRP whale transferred more than $160 million worth of XRP from a top crypto exchange.
According to blockchain tracker Whale Alert, XRP was valued at approximately $161.2 million moved from crypto exchange Kraken to an unknown wallet.
“500,000,000 XRP ($161,221,368) transferred from Kraken to unknown wallet.”
The transaction cost 0.000012 XRP or approximately $0.00000395 on XRP Ledger. The XRP Ledger or simply XRPL is a decentralized blockchain that uses XRP as the native cryptocurrency.
XRP is trading at $0.3295 at the time of writing.
According to on-chain data from the recipient wallet, the 500 million XRP deposit is the largest amount received by the address since a November 2021 infusion of 300 million XRP from Kraken. All other transactions recorded by the address between then and now have involved amounts of one XRP or less.
The massive transaction comes days after research firm Santiment revealed that XRP whale transactions had hit a three-month high. Santiment said on-chain XRP transactions worth over $100,000 had reached levels last recorded in May. The analytics platform also revealed that sentiment on XRP had risen to a four-month high.
“XRP is seeing remarkable whale activity, as well as high optimism, at Friday’s close. We’ve picked up a peak of $100,000+ XRP transactions not seen since May 13. Additionally, sentiment is at its highest since April.”
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Featured Image: Shutterstock/Pattern Trends
