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HomeCryptocurrencyCrypto Whale Grabs Additional 500 Million XRP, Spends Only $0.0000039 As Fee

Crypto Whale Grabs Additional 500 Million XRP, Spends Only $0.0000039 As Fee

One of the largest XRP transactions from exchanges to unknown wallets has just been reported by Whale Alert, a top tracking service that reports large crypto transactions. Recently, whales have been moving hundreds of millions of Ripple’s digital token XRP between top exchanges and unknown wallets.

XRP whales are not relenting in the accumulation of XRP regardless of the legal challenge faced by the token. A few hours ago, Whale Alert announced a 500 million XRP tokens transfer made from the Kraken exchange to a wallet (rUeDDFNp2q7Ymvyv75hFGC8DAcygVyJbNF) of an unknown origin in one transaction. 

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

This is the second time the wallet involved in the whopping transaction has accumulated a large amount of the XRP from Kraken exchange. The whale wallet which was created and activated in March 2021 now holds a total of 800 million XRP tokens, at the time of writing.

In November 2021, the wallet received 300 million XRP from the same exchange in one transaction. Notably, the fee charged in the 500 million token transfer today was as low as $0.0000039 (0.000012 XRP). 

Related: About 400 Million XRP Moved in the Past 24 Hours: Here’s Where They Are Heading

Whales’ Impact on XRP Price Action

In recent weeks, XRP whales have been moving very large amounts of XRP. These reported transactions mostly involve transferring or moving millions of XRP tokens from one wallet to another wallet or exchange and vice versa. Therefore, these whales’ actions have not significantly affected the price of XRP recently

At the time of writing, Ripple‘s digital token XRP recorded a price decline of about 3% in the last 7 days. At the time of writing, XRP is trading for $0.327, as shown by Coinmarketcap data.

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As reported by Timestabloid on August 24, over 500 Million XRP tokens were shifted within two days by whales amid the prevailing market downturn. This cumulative large transfer was executed using several top crypto exchanges like FTX, Bitso, Bitstamp, and mysterious whale wallets.


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Ndianabasi Tom
Ndianabasi Tom
Ndianabasi Tom joined the crypto and blockchain industry in late 2018. He is an all-rounded crypto journalist and content writer. At TimesTabloid, he covers the industry's latest news, developments, and other educational content. He is a graduate of Petroleum Engineering.
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