XRP Drops 16 Percent in October Following Binance Hack and Market Liquidations

XRP declined 16 percent in October 2026, dropping more than double Bitcoin's 7.3 percent fall, according to 24/7 Wall St. By October 30, XRP reached its monthly low at $1.20, coinciding with Bitcoin falling to $76,141. UToday Crypto News reported that XRP traded below its 200-day moving average for the first time since August 2026, after temporarily dipping below that technical level in mid-September. [1][3]

The broader digital asset market experienced elevated volatility following a $6.3 billion security breach at cryptocurrency exchange Binance. Altcoin Buzz reported that crypto liquidations topped $1.5 billion as Bitcoin, Ether, and XRP dropped. Binance founder Changpeng Zhao credited the FBI, the US Secret Service, and Internal Revenue Service law enforcement agencies with helping prevent a larger decline in the price of Bitcoin, UToday Crypto News reported. [2][4][5]

Binance prepared to resume cryptocurrency withdrawals for XRP, Bitcoin, Ethereum, and Solana on November 1 after recovering 95 percent of the assets affected by the exploit, according to UToday Crypto News. In derivatives markets, Pluang reported that XRP led top cryptocurrency futures with a 12.31 percent drop in open interest, while Bitcoin retained the highest positive funding rate. [4][9]

The XRP Ledger is a cryptocurrency platform launched in 2012 by Ripple Labs that utilizes XRP as its native asset. FTMQ Crypto reported earlier that Bitcoin had fallen below its 50-day moving average on October 25, when it traded at $80,806. Additionally, Ripple carried out a planned escrow release of 1 billion XRP at the start of November, according to the Bitcoin Foundation. [7][12][13]