500 Million XRP Withdrawn From Kraken In One Transfer

Half a billion XRP was withdrawn from crypto exchange Kraken as XRP recovered nearly 3%.

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

According to blockchain tracking firm Whale Alert, approximately $161.2 million worth of XRP was transferred from crypto exchange Kraken to an unknown wallet.

The transaction cost is 0.000012 XRP or about $0.00000395 on the XRP Ledger. The XRP Ledger, or XRPL, is a decentralized blockchain that uses XRP as the native cryptocurrency.

According to the recipient wallet’s on-chain data, the 500 million XRP deposit is the largest amount the address has received since the November 2021 transfer of 300 million XRP from Kraken. Since then, all other transactions recorded by the address have involved amounts of one XRP or less.

The massive transaction comes days after analytics firm Santiment revealed that XRP whale trades hit a three-month high. Santiment says that on-chain XRP transactions worth over $100,000 have reached levels last recorded in May. The analytics platform also revealed that sentiment toward XRP has surged to a 4-month high.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Harold

CoinCu News