Half A Billion XRP Withdrawn From Kraken

August 31, 2022 10:26 pm

A whale recently moved more than 160 million dollars worth of XRP from one of the most prominent cryptocurrency exchanges.

Per Whale Alert, an amount of XRP with an approximate worth of 161.2 million dollars was transferred from the cryptocurrency exchange Kraken to an unidentified wallet.

Over “500,000,000 XRP was transferred from Kraken to an unknown wallet..

The recent transaction by the unidentified whale is just one of the many massive moves by XRP whales in recnt months.

U.Today had these details to share:

According to Whale Alert cryptocurrency tracker, roughly seven hours ago, a staggering 500 million XRP was transferred from a major crypto exchange Kraken.

This amount of cryptocurrency is worth $161,221,380. An amount of half a billion XRP tokens were sent from a Kraken wallet to an anonymous crypto address, while the seventh largest digital currency is trading in the $0.32 range.

Earlier today, XRP printed several consecutive red hourly candles, dropping by 4.61 percent. By now, however, Ripple-affiliated coin has partly recovered, rising by nearly 3 percent.

The Daily Hodl had more on the story:

According to blockchain tracker Whale Alert, XRP valued at approximately $161.2 million was moved from crypto exchange Kraken to an unknown wallet.

“500,000,000 XRP (161,221,368 USD) transferred from Kraken to 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 which uses XRP as the native cryptocurrency.

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

According to on-chain data of the recipient wallet, the deposit of 500 million XRP is the largest amount received by the address since an infusion of 300 million XRP in November of 2021 from Kraken. All other transactions recorded by the address between then and now have involved amounts of one XRP or less.

Join the conversation!

We have no tolerance for comments containing violence, racism, profanity, vulgarity, doxing, or discourteous behavior. If a comment is spam, instead of replying to it please click the icon below and to the right of that comment. Thank you for partnering with us to maintain fruitful conversation.