XRP Holds Above $1.25 After the Binance Hack With a 1.59% Daily Gain

XRP Retraces the Hack Sell-Off

The XRP price recovered 1.59% over the past 24 hours and stood at $1.2544 as of 00:01 UTC on Saturday, lifting the token back over the $1.25 line after two bruising sessions. The bounce followed a 3.96% slide to $1.26 recorded on October 30, when Bitcoin's 4.63% drop pulled the wider market lower in sympathy. XRP kept its fifth-place rank by market capitalization through the swing. Korean venues told a calmer story: the token last changed hands on Upbit at 1,691 won, flat at 0.00% on the day, a marked contrast with the recent Upbit volume spike that had made the exchange a center of the earlier trade. The slide itself began on Friday, when the breach at Binance became public, in which roughly $6.3 billion in cryptocurrency was taken from the platform, and it carried into Friday's session. On-chain analysis attributes about 233 million XRP, close to $292 million at the time, to the thieves, and XRP moved first as the funds left. A freeze is not available here: the tokens sit in attacker-controlled addresses on a public blockchain, where Ripple holds no administrative key, so they hang over the order book as latent selling pressure. The market's reaction was immediate: the token slid from $1.28 to $1.20 around the incident, a decline ascribed to direct panic selling and to the risk that the stolen coins change hands. The gain retraced only part of the hack-week loss, and the token still sits below the $1.28 it held when the breach became known.

A $1.5 Billion Leverage Flush

Leveraged positioning did much of the amplifying. Derivatives data recorded more than $1.5 billion in liquidations across the crypto market in the 24 hours around the incident, with long positions accounting for roughly 87% of that total. Forced closure of leveraged longs converts paper losses into immediate spot sales, and the cascade explains the speed of the drop to $1.20: each closed long added tokens to a market already digesting the prospect of 233 million stolen coins. XRP carried about $36.7 million of the closures, and turnover on the token jumped 145%, a pattern read as fear-driven trading rather than accumulation. The technical map out of the damage runs through a handful of levels. A relative strength index of 26.64 on the 7-period setting left the token deeply oversold, so a successful defense of $1.20 carries genuine rebound potential, while a break of $1.2002 opens the next Fibonacci retracement support near $1.09. Reversing the trend requires a daily candle close above the recent resistance at $1.3444, one of the levels tracked in our XRP technical analysis. Two developments outside the chart will set the direction over the next 24 to 48 hours. Binance has tentatively marked October 31 as its target for resuming withdrawals, and what the official announcement contains becomes the variable by which confidence is restored. The other gauge is custody of the stolen supply: whether the 233 million tokens begin moving from the hacker's wallet address toward exchanges is the measure of residual selling pressure. Only when Bitcoin's dominance steadies and the total scale of liquidations shrinks, across the broader XRP market and the rest of crypto, can the selling be judged finished.

The $1.2730 Ceiling

Our live monitoring puts XRP at $1.26, up 0.2% since the 00:01 UTC snapshot and 2.1% over 24 hours, a firmer tape that still sits inside a downtrend with RSI at 38.17. Our composite scoring, which rates each level from 0 to 100 on the indicators converging there, places the nearest ceiling at $1.2730, a perfect 100/100, with the strongest support below at $1.2473, scored 69/100, where the lower Bollinger Bands, the pivot point and the weekly S1 meet. Positioning is tilted but not stretched: funding is a mild 0.0065% and the long/short account ratio stands at 3.02, 75.1% long, while the Crypto Fear and Greed Index reads 30. That reading holds while the stolen XRP stays in hacker hands and Binance's withdrawal restart lands on schedule; the tokens moving to exchanges would reset it.