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

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On-chain data reveals that the XRP whale has moved more than $160 million in XRP from the largest crypto exchange.

According to blockchain tracker Whale Alert, the value of XRP is around $161.2 million he moved From the Kraken crypto exchange to an unknown wallet.

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

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The transaction costs 0.000012 XRP or approximately $0.00000395 on the XRP ledger. XRP Ledger or simply XRPL is a decentralized blockchain that uses XRP as the original cryptocurrency.

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

According to on-chain data from the receiving wallet, the 500 million XRP deposit is the largest the address has received since the November 2021 injection of 300 million XRP from Kraken. All other transactions recorded in the address between that date and today had XRP amounts of one or less.

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

“XRP is seeing notable whale activity, as well as great optimism, in the closing hours on Friday. We recorded a sudden rise in XRP transactions of over $100,000 unmatched since May 13. Moreover, sentiment is at its highest level since April.”

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Featured Image: Shutterstock / Pattern Trends

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