Further market insights show that Kraken has been moving XRP recently. As background information, Whale Alert also reported another transaction today involving an untagged address and Kraken. The aforementioned transfer occurred over 12 hours ago, and data confirms that it occurred today at 00:44 (UTC). Notably, “rLHzPs” (the sending address from the previous transaction) also participated in this XRP transfer, but this time as the receiving address. According to XRPScan data, the untagged sending address “rJHkpN” transferred 31,852,903 XRP (worth $95 million) to a Kraken address today. Interestingly, we found that the sending address for this transaction is also associated with Kraken. Specifically, XRPScan shows that the address “rrhT2Hd” activated the sending address on July 10, 2024. Analysis also shows that a “Kraken (1)” account also activated the address on June 21, 2024. Simply put, both transactions involve Kraken transferring funds from one wallet to another, likely from its hot wallet to a secure self-custodial wallet for storage, or vice versa.