XRP experienced heightened network activity after a significant security breach at Binance led to the theft of $297 million worth of XRP on October 29. Following the incident, blockchain analytics provider Santiment reported that 7,934 new XRP wallets were created by users on November 1. This figure represents the sixth-highest single-day wallet creation in 2026 and more than doubles the season’s daily average of approximately 3,500 new wallets.
Wallet numbers surge as investors move funds off exchanges
The rapid increase in new XRP wallet creation appears closely tied to investor actions following the Binance hack. Many market participants are believed to have reacted by transferring their XRP assets from centralized exchanges into self-custody wallets, seeking greater control and security over their holdings.
Binance, established as one of the world’s largest cryptocurrency exchanges, was targeted when attackers gained access to the company’s hot wallets, resulting in the loss of $6.36 billion in various digital assets. The US Federal Bureau of Investigation has attributed the attack to the North Korea-based group known as TraderTraitor.
During the security breach, hackers reportedly stole 233 million XRP tokens, valued at roughly $297 million. This incident has prompted discussion about the importance of personal custody over digital assets, as market participants reconsider their reliance on centralized platforms.
According to blockchain explorers, on November 2, the party responsible for the Binance hack moved around 233.46 million XRP—approximately $293 million—to six newly created wallets. The stolen assets reportedly remained dormant for several days before being transferred. While these movements highlight efforts to shift funds, they do not necessarily indicate that the hackers have fully concealed the assets from investigative authorities.
Mini dictionary: TraderTraitor, a North Korea-linked hacker group, has been tied to several major cyberattacks targeting cryptocurrency exchanges and is notorious for laundering digital assets to evade international sanctions.
Movements of large volumes from compromised wallets underline the ongoing necessity for blockchain monitoring as investigations progress.
| Date | XRP Wallets Created | XRP Price (approx.) | XRP Transferred by Hackers |
|---|---|---|---|
| Oct 29, 2026 | — | $1.25 | — |
| Nov 1, 2026 | 7,934 | $1.25 | — |
| Nov 2, 2026 | — | $1.25 | 233.46 million XRP |
XRP price shows resilience amid network changes
Despite heightened concerns in the wake of the Binance security breach, XRP’s market price has remained relatively steady. The cryptocurrency has found support around the $1.20 level and currently consolidates near $1.25.
At present, XRP is trading at $1.25, with 24-hour trading volume at $1.22 billion and a total market capitalization of $79.83 billion. The price has registered a mild increase of 0.93% in the past 24 hours.
Some market analysts view the stable price action as evidence that investors are treating the hack as a centralized exchange security issue, not a flaw in the XRP Ledger itself.
This divergence between the surge in network activity—measured by the number of new wallets—and the absence of significant price fluctuation suggests that investors are opting to secure their assets rather than liquidate them.
Should daily wallet creation remain above 4,000, this could signal an extended trend of increased new users and transfers to self-custody. Conversely, a decline below 3,000 wallets per day may point to a normalization in network activity.
XRP price stability will bear watching, particularly if significant moves above the $1.30 resistance level coincide with sustained high wallet creation, indicating renewed buying pressure.
For now, the XRP Ledger remains in the spotlight following the Binance incident, with elevated wallet creation and notable on-chain transactions reflecting shifts in custody preferences among XRP holders.
