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XRP withdrawals spike after Binance hack, ETFs see inflows despite price pressure

Market News
03 Nov 2026, 03:00 WIB
AMBCrypto
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Bearish
XRP withdrawals spike after Binance hack, ETFs see inflows despite price pressure

Following a security breach at Binance, large XRP withdrawals surged, with about 283 million XRP moved from the exchange, mostly through compromised accounts. This raised concerns about stolen funds and potential selling pressure, as hackers actively transferred 40 million XRP to unknown wallets. Despite this turmoil, institutional investors continued to add capital to XRP spot ETFs, resulting in net inflows of $4.32 million by late October. However, overall ETF assets declined due to XRP's weakening market value, indicating that while demand remains, it hasn't fully countered price declines. Monitoring hacker-linked wallet activity remains crucial for assessing future market impact.

XRP trades at Rp22.706 with a slight 0.32% decline as of Nov 03, 2026 08:22 WIB on Pluang, where 64% of orders are buys and typical holding time is 73 days. Despite the news of large token movements linked to security breaches, XRP's market cap remains strong at Rp1.435,56 trillion. This ongoing institutional interest in XRP spot ETFs contrasts with the minor price dip seen on Pluang, highlighting a complex market environment.

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