XRP recorded a significant increase in network activity following the USD 6.3 billion Binance cryptocurrency hack, with nearly 8,000 new wallets created within 24 hours. The surge occurred despite XRP trading around USD 1.25, suggesting growing interest in self-custody amid heightened exchange security concerns.
Blockchain analytics firm Santiment reported that 7,934 new XRP wallets were created on November 1, representing the sixth-highest daily increase recorded in 2026. “XRP network growth is accelerating fast,” the company stated in its November 2 update.
The firm suggested that the recent Binance security breach may have encouraged cryptocurrency holders to move assets into independently controlled wallets.
“The surge follows a busy week for XRP and came just after the Binance hack, which may have pushed more users toward self-custody and fresh wallets,” Santiment added. However, wallet creation does not necessarily indicate an equivalent increase in individual investors.
The October 29 Binance breach reportedly involved substantial XRP transfers alongside other stolen cryptocurrencies. According to investigations, attackers transferred approximately 233.46 million XRP from five Binance wallets into an unauthorized address within four minutes.
Binance subsequently announced that XRP and nine additional cryptocurrencies were fully backed using corporate resources. The exchange also reported covering approximately 95% of affected customer assets while gradually restoring cryptocurrency withdrawal services.
Despite stronger network activity, XRP remained near USD 1.25, with analysts identifying important technical levels. Santiment noted that sustained wallet creation above 4,000 addresses daily, combined with XRP recovering USD 1.30, could indicate improving market momentum.
Conversely, a decline below USD 1.20 alongside fewer than 3,000 new daily wallets could weaken the bullish outlook. The analysis suggests that network growth must translate into sustained market demand before confirming a broader recovery.
On November 2, the attacker redistributed approximately 233.45 million XRP across six newly created wallets. Blockchain data shows nine transactions between 3:52 am and 4:00 am UTC, following approximately 80 hours of limited movement.
The transfers highlight continuing concerns surrounding stolen cryptocurrency movements and exchange security. Meanwhile, XRP's rising wallet activity could signal changing custody preferences, although sustained adoption remains uncertain.
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