Momentum

Brad

XRP dropped 3.4% on Friday, sliding below a crucial support level after <a href="https://en.coin-turk.com/goldman-sachs-and-fidelity-back-clarity-act-as-xrp-eyes-october-breakout/" rel="noopener noreferrer nofollow">Ripple</a>’s recent business updates and a major security breach at Binance shook the broader cryptocurrency market.
<h2 id="ripple-s-financial-projections-and-rlusd-growth">Ripple’s financial projections and RLUSD growth</h2>
Ripple reported it is on track to reach a $900 million annualized revenue run rate by the end of 2026. This figure represents projected revenue if current growth continues through the year, not total revenue received.
Company management anticipates that Ripple’s payments network will process $150 billion in cumulative transactions by the close of 2026. The network facilitates international transfers in over 60 payout markets worldwide, involving more than 1,700 clients, including financial institutions and large corporations.
Ripple CEO Brad Garlinghouse discussed rapid shifts in digital finance, noting the migration of market infrastructure to modern, real-time settlement systems. He stated, “As traditional and digital finance converge, market infrastructure is migrating to modern rails. Settlement is moving to real-time, 24/7, and tokenized assets can be traded, financed, and used as collateral.”
Within Ripple’s suite of products, the RLUSD stablecoin has achieved a market capitalization of approximately $2.6 billion, which represents more than 88% growth since the start of the year. RLUSD is offered as a core digital dollar option for enterprise clients, supporting payment settlement and onchain market operations.
Addressing speculation around RLUSD potentially replacing XRP’s utility, Garlinghouse emphasized that XRP remains central to the company’s future plans. In an interview with Bloomberg, he added that RLUSD functions as a complement to XRP rather than a substitute, particularly for businesses entering the digital asset ecosystem.
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 Garlinghouse highlighted that while RLUSD opens enterprise access to digital assets, XRP continues to serve as a bridge asset for transactions between different currency pairs within Ripple’s infrastructure.
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<h2 id="binance-security-incident-shakes-markets">Binance security incident shakes markets</h2>
The decline in XRP coincided with a significant cryptocurrency sell-off, following Binance’s disclosure of a security breach. As the largest digital asset exchange by trading volume, Binance revealed that attackers accessed its systems via a compromised DevOps engineer’s laptop, enabling unauthorized withdrawal transactions.
Binance estimated the losses from the breach at $6.3 billion. The company coordinated with blockchain partners to freeze roughly $3 billion of the affected funds. Deposits and withdrawals were temporarily suspended, but Binance maintained that customer assets remained secure and committed to covering user losses through its SAFU fund and company reserves.
Changpeng Zhao, Binance co-founder and former CEO, reiterated that “user funds are safe” and confirmed ongoing remediation efforts on X, previously known as Twitter.
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 Binance updated users shortly after the incident, confirming the freeze of $3 billion in stolen funds and affirming its commitment to safeguarding customer assets while normal operations resume.
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<h2 id="xrp-technical-outlook-and-price-levels">XRP technical outlook and price levels</h2>
Following these developments, XRP slipped below the $1.24 support on Friday. The token now trades beneath its 20-day, 50-day, and 100-day exponential moving averages, constraining recovery prospects.
Momentum indicators remain weak, with the Relative Strength Index near 38 and the Stochastic Oscillator’s levels at 30 and 29. These figures suggest that, although bearish conditions persist, XRP has not yet reached conventional oversold thresholds.
If selling pressure persists, immediate support awaits at $1.16. Further declines could bring the $1.04 and $0.98 price areas into focus. Conversely, reclaiming the $1.24 level could open the way for a rebound towards the $1.33 to $1.35 resistance zone, with higher resistance levels found at $1.37, $1.48, and $1.66.
With rapid swings in both technical structure and liquidity following the Binance incident, digital asset traders now face increased uncertainty.
In response to evolving market volatility, <a href="https://lk.software/cryptoappsy/" rel="noopener noreferrer nofollow">CryptoAppsy</a> allows traders to monitor XRP’s real-time price action and set up smart alerts tailored to shifting support and resistance levels. Its customizable charting tools help users stay on top of sudden technical changes, aiding prompt decision-making during fast-moving events like the recent Binance breach.
The post <a href="https://en.coin-turk.com/xrp-falls-3-4yuzde-as-binance-hack-triggers-6-3-billion-crypto-sell-off/" rel="noopener noreferrer nofollow">XRP falls 3.4% as Binance hack triggers $6.3 billion crypto sell-off</a> appeared first on <a href="https://en.coin-turk.com" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.

XRP falls 3.4% as Binance hack triggers $6.3 billion crypto sell-off

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