Ripple Moves 310M XRP Hours After Backing Binance Hack Response
Whale Alert data shows Ripple moved 310 million XRP, worth over $389 million, in three transactions within minutes on Oct. 30. No motive has been stated, and the timing follows Ripple's confirmed help with the Binance exploit response.
310 million XRP. Three transactions. A few minutes.
That is what Whale Alert data shows Ripple moving on Friday, October 30, worth over $389.08 million in total. XRP traded around $1.25 at the time.
The breakdown: Ripple sent 120 million XRP (about $150.57 million) to an unknown wallet. The other two transfers ran the opposite way. 90,000,001 XRP ($112.96 million) and 99,999,999 XRP ($125.56 million) went to Ripple from unidentified wallets. None of the counterparties are labeled.
No motive has been stated. Some market watchers read it as Ripple selling XRP. Others tie the transfers to the company's role in the Binance exploit response.
The timing feeds that second reading. The moves landed hours after a Ripple executive confirmed the company was helping address the exploit, which led to the theft of some XRP. Ripple said it was actively freezing affected funds while coordinating with relevant parties. Whether the transfers are part of that effort is unconfirmed.
With the wallets unidentified, the direction and purpose of the flows can't be confirmed from the available data.
Market backdrop
Our earlier coverage puts the Oct. 29 Binance hack at about $6.3 billion, with roughly $3 billion frozen on-chain. Tether froze more than 1.567B USDT. Circle froze about $823M USDC.
Bitcoin dropped only about 2.5% before bouncing and has been consolidating between $78,000 and $82,000. Resistance sits near $85,000 to $90,000, with supports at $76,000 to $78,000 and $72,000 to $74,000.
XRP is down nearly 30% this year, even as Ripple expects a $900M product revenue run rate by end of 2026.
Ripple has not stated a reason for the transfers.
