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XRP price fell to approximately USD 1.25 following the October 29 Binance hack, which involved 233.46 million XRP worth nearly USD 297 million. The breach raised concerns about potential selling pressure as the token approached critical technical support. Meanwhile, Ripple secured regulatory approval for a national trust bank, and XRP-focused ETFs recorded fresh inflows.
Despite these developments, XRP remained under pressure after failing to break above its descending price channel. The immediate price outlook now centers on whether buyers can defend USD 1.20 and prevent a deeper decline.
Blockchain analytics firm Nansen reported that hackers transferred 233.46 million XRP into a single wallet during Binance's October 29 security breach. The holdings carried an estimated value of USD 297 million.
Arkham identified XRP as the first asset the attacker targeted, with initial losses approaching USD 300 million. Meanwhile, TRM Labs tracked approximately USD 296 million moving through the XRP Ledger.
The attack also involved Bitcoin, with Nansen identifying approximately 18,270 BTC across 19 wallets. Unlike the stolen XRP, the Bitcoin holdings spread across multiple addresses.
Following the breach, XRP declined 3.3% over 24 hours, reaching approximately USD 1.25 on October 30. The token had closed the previous session at its lowest level in 30 days.
The decline extended XRP's monthly losses to 16.1%, while its year-to-date drop reached 32.1%. The cryptocurrency also remained 65.8% below its July 2025 record of USD 3.65.
The stolen holdings raised concerns about potential market sales. However, exchanges can block suspicious deposits before attackers convert the assets.
Ripple received final regulatory clearance from the Office of the Comptroller of the Currency on October 26 to establish Ripple National Trust Bank.
The institution will oversee RLUSD stablecoin reserves and provide institutional cryptocurrency custody. However, its authorization excludes conventional deposit-taking and lending services. According to Memeburn, the approval strengthens Ripple's regulatory standing but may have limited immediate effects on XRP demand.
Meanwhile, Bitcoinhaber reported that XRP-focused ETFs attracted more than USD 8 million on October 29. The latest additions brought cumulative net inflows to approximately USD 1.81 billion.
Separately, Ripple froze approximately USD 40 million in RLUSD linked to the Binance breach, according to TRM Labs. The stablecoin's issuer controls allow Ripple to restrict specific holdings. However, XRP operates differently because it serves as the ledger's native asset. Ripple cannot freeze the stolen 233.46 million XRP.
Instead, exchanges can prevent suspicious deposits from reaching their markets. Attackers may attempt to avoid detection by moving assets through smaller platforms.
KuCoin also reported proposed XRP Ledger changes designed to tighten token permissions. Those changes remain subject to validator review.
Read More: What Drives XRP’s Price in October 2026? ETF Flows, Adoption, and Market Trends
XRP continues retracing its August rally from USD 0.99 to USD 1.70. The earlier advance stalled below the USD 1.70–USD 1.80 resistance zone. Since then, the daily chart has recorded lower highs. XRP also lost the 50% Fibonacci retracement at USD 1.34 before approaching USD 1.25.
This area aligns with the 61.8% Fibonacci retracement and a demand zone established in mid-September.
On October 29, XRP briefly declined toward USD 1.20, near the 70.2% retracement. Buyers subsequently pushed the token toward USD 1.25, leaving a long lower wick. A recovery would require XRP to reclaim USD 1.34 before challenging the USD 1.40 resistance zone. That area previously rejected the latest rebound.
Conversely, a decisive daily close below USD 1.20 would expose the USD 1.10–USD 1.14 demand zone. This region overlaps the 78.6% Fibonacci retracement.
Further weakness would bring XRP closer to its August low of USD 0.99, threatening the remaining advance from that period.
XRP faces pressure near USD 1.25 following the Binance breach involving approximately USD 297 million in stolen tokens. Ripple's banking approval and continued ETF inflows represent separate institutional developments. Meanwhile, USD 1.20 remains the immediate support level, while USD 1.34 and USD 1.40 mark potential recovery targets.