The XRP price stood at $1.28 on Tuesday evening, November 3, up 3.7 percent on the previous day. Yet a holding that shows up on no price screen hangs over the market: 233.46 million XRP from the Binance hack of October 29, worth around $299 million at the current price. Overnight into Monday, the attacker spread it across six new wallets.
What is established: by Tuesday evening, not one of these six wallets had sent a single payment, as our own query of the XRP Ledger shows. Our assessment follows further down. The holding is a real risk for the price, but it does not justify hasty selling. This article sets out what happened on the ledger, why Ripple cannot freeze the coins, which price levels matter until November 8 and what investors in Germany should sensibly address on custody, leverage and the holding period.
Binance hacker spreads 233 million XRP: the sequence on the XRP Ledger
On the evening of October 29, from 20:05 UTC, 233.46 million XRP flowed out of five Binance wallets to a single attacker address within around four minutes, as Read Entire Article
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