XRP price prediction: Binance hacker's 172M XRP sell-off

The attacker who stole crypto assets worth $6.43 billion from Binance on October 29 had cut his XRP holdings by more than three quarters by Tuesday morning. Of the 233.46 million stolen XRP, only 61.8 million were still sitting in his six wallets on the XRP Ledger at 7:49 a.m. German time on Tuesday. That is the result of a query cryptoticker.io ran directly against the ledger. Since November 5, 171.66 million XRP have left the wallets, 46.6 million of them on Monday alone.

For the short-term outlook, this cuts both ways. The selling pressure from the loot was real over the past few days, and it coincides with the slide from $1.30 to $1.10. At the same time, what is left keeps getting smaller. If the pace of recent days holds, the holdings would be gone in about two days. After that, the market loses a seller that has pushed millions of XRP onto it every day for the past five days.

Where the price could head over a horizon of months is covered by our XRP price prediction with its long-term scenarios. This piece sticks to the coming days. On Tuesday morning XRP trades at $1.10, or €0.98, on the Kraken exchange. The range over the past 24 hours runs from $1.075 to $1.116.

Binance hack of October 29: where the 233 million XRP came from