Binance Hacker Splits 233 Million Stolen XRP Across Six Wallets as Price Struggles Near $1.24

XRP is facing renewed selling pressure concerns after a hacker linked to the October 29 Binance breach redistributed 233.46 million stolen tokens across six newly created wallets. The transfers involved approximately $291 million worth of XRP at a price of $1.25, raising questions about whether the funds could eventually reach cryptocurrency exchanges and enter the market.

Blockchain analytics firm Nansen initially valued the stolen XRP at approximately $297 million when the funds were consolidated into a single wallet. The incident formed part of a much larger reported security breach involving approximately $6.36 billion in stolen assets, including Bitcoin. TRM Labs also tracked roughly $296 million in XRP moving through the XRP Ledger.

The hacker initially kept the XRP in one wallet for more than three days. On November 2, the funds were distributed among six new addresses through a series of transactions between 03:47 and 04:00 UTC. Five wallets received 40 million XRP each, while the sixth received approximately 33.45 million XRP. Only a negligible balance remained in the original wallet.

The redistribution has attracted attention because splitting stolen cryptocurrency into multiple wallets can make subsequent movements more difficult to monitor. It can also prepare funds for gradual transfers through exchanges, swapping services or other channels. However, the available transaction information does not establish that the hacker has begun laundering or selling the XRP.

Ripple Freezes RLUSD but Cannot Freeze the Stolen XRP

Ripple reportedly froze approximately $40 million in RLUSD connected to the broader theft, demonstrating the ability of the stablecoin’s issuer to restrict certain transactions involving its token. The situation is different for XRP. The XRP Ledger does not give Ripple unilateral authority to freeze native XRP held in an ordinary wallet, meaning the company cannot simply block the hacker’s balance.

That leaves cryptocurrency exchanges and other regulated service providers as important potential intervention points. If the stolen XRP reaches a platform that identifies the funds and takes action, it may be possible to prevent deposits from being traded or withdrawn. Until then, the six wallets remain the primary addresses investigators and market participants can monitor.

The stolen XRP represents a significant amount of potential supply. At approximately $291 million, it equals roughly 28% of the $1.05 billion daily trading volume cited in the supplied market data. That does not mean the entire amount would be sold at once, or that every reported dollar of trading volume represents immediately available liquidity. A rapid liquidation could create considerable pressure, while gradual selling across multiple platforms could have a different market impact.

The breach also involved Bitcoin, with Nansen estimating approximately 18,270 BTC distributed across 19 wallets. Unlike the XRP, which was initially consolidated into one address, the Bitcoin was spread across multiple wallets, creating a separate tracking challenge.

XRP Price Faces Pressure as ETF Inflows Offer Some Support

XRP fell approximately 3.3% over the 24 hours following the breach, reaching around $1.25 on October 30. The token was already struggling, having declined 16.1% over the preceding month and 32.1% since the beginning of 2026, according to the supplied figures.

Despite the security concerns, US spot XRP exchange-traded funds recorded approximately $4.33 million in net inflows between October 26 and 30. Franklin Templeton’s XRPZ accounted for $5.57 million in inflows, while Canary’s XRPC added approximately $922,000. These gains were partly offset by outflows from Bitwise and Grayscale products.

Ripple also completed its November escrow release, unlocking one billion XRP and returning 700 million to new escrow contracts scheduled to open between June and July 2029. The remaining 300 million was transferred to Ripple’s main wallet. This is part of the company’s recurring escrow process and should not automatically be interpreted as an intention to sell.

XRP was trading around $1.2487 in the supplied November 2 data, with support near $1.2423 and a more significant downside level around $1.2002. Resistance stood near $1.2739, followed by the 50-day exponential moving average around $1.3399.

The immediate concern is whether any of the six wallets begin transferring XRP to exchanges. Until that happens, the redistribution represents a potential supply overhang rather than confirmed selling. For XRP holders, monitoring the wallets, exchange activity and price reaction around $1.24 may provide a clearer indication of whether the Binance breach will create another sustained challenge for the market.