What to Know

  • Bitget disclosed a major hack with total losses of around $351.6 million.
  • The exchange said unauthorized transfers were detected from some hot wallets at 18:31 UTC on September 24, 2026.
  • North Korean hackers are reportedly responsible for the drain.
  • Bitget said user funds remain safe because the losses are covered by its User Protection Fund.
  • On-chain data indicates that a large portion of the stolen funds includes XRP tokens within the XRP Ledger.
  • Ripple has not yet commented on any potential action related to the stolen XRP-linked funds.
  • XRP has rallied by nearly 10% in the past 24 hours and reached $1.60 despite the hack news.
  • XRP-linked exchange-traded funds have attracted $52 million in the past 3 days.
  • Monthly inflows into XRP-linked ETFs are now at $95 million.
  • More than 30,000 new XRP wallet addresses were created on September 16, a level that has previously appeared near the start of strong directional moves.
  • Technical traders are watching $1.80 as an initial target and $2.10 as a possible mid-term objective after a bull flag breakout.
  • The Relative Strength Index has risen above its signal line and past the 60 mark, suggesting buyers remain in control of the price action.

XRP Rises as Bitget Hack Fails to Break Momentum

XRP has extended its advance despite a sharp security shock involving one of the crypto market’s major centralized exchanges. The token has rallied by nearly 10% in the past 24 hours and touched $1.60, a move that stands out because it came alongside confirmation from Bitget that the exchange suffered a large hot wallet breach.

Bitget disclosed total losses of around $351.6 million after detecting unauthorized transfers from some of its hot wallets at 18:31 UTC on September 24, 2026. The exchange said emergency response protocols were activated immediately. North Korean hackers are reportedly responsible for the drain, adding another high-profile incident to a long list of security events that have kept centralized exchange risk in focus across the digital asset market.

For XRP traders, the key point is not only the size of the hack but the composition of the stolen assets. On-chain data indicates that a large portion of the stolen funds includes XRP tokens held within the XRP Ledger. That has placed additional attention on the network and on how major ecosystem participants may respond if stolen funds begin moving through identifiable addresses.

Ripple’s Next Steps Are Under Market Scrutiny

Ripple has not yet commented on any actions regarding the stolen funds. That silence is important because incidents involving stolen tokens often revive a broader debate about decentralization, intervention, and the limits of influence within public blockchain networks.

In crypto markets, any attempt by a development team, issuer, validator group, or other influential ecosystem actor to freeze assets or blacklist wallet addresses is usually examined closely. Some market participants view such actions as necessary in exceptional cases involving theft, while others see them as a sign that a network may be more centralized than advertised. XRP, given its long-running public debate over institutional use, payments infrastructure, and network governance, is likely to remain under close watch as the Bitget situation develops.

For now, the price action suggests that traders are separating the exchange-specific security incident from the broader XRP market structure. The token’s climb to $1.60 indicates that buyers have not retreated in the face of the news. Instead, the market appears to be weighing the hack against improving technical conditions, rising fund inflows, and a burst of on-chain activity.

Risk Appetite Supports Crypto Market Strength

The broader crypto market has continued to rally after last week’s interest rate decision by the Federal Reserve. Market participants are now fully pricing in a second rate hike in December and multiple rate hikes in 2027. Even with that policy backdrop, sentiment has moved into “Greed” territory on the Crypto Fear and Greed Index.

This shift matters for XRP because the token is currently trading in an environment where capital is still moving toward risk assets. The move into “Greed” suggests traders are increasingly willing to look past individual negative headlines when broader liquidity and momentum conditions remain supportive. In such an environment, assets with strong technical breakouts can continue to attract attention, particularly when ETF flows and network growth reinforce the bullish narrative.

That does not mean the Bitget hack is irrelevant. Security breaches can weigh on confidence, especially when they involve large centralized platforms and tokens that are actively traded across global venues. However, the immediate market response shows that investors are not treating the event as a reason to abandon XRP exposure. Instead, price action indicates that dip buyers and momentum traders remain active.

ETF Inflows Add Fuel to the XRP Rally

XRP-linked exchange-traded funds have recorded strong inflows over the past 3 days, with $52 million entering the products during that period. Monthly inflows are now sitting at $95 million, and if the current trend continues for the remainder of the month, flows could finish near August’s levels.

ETF inflows are closely watched because they can signal demand from investors who prefer regulated or brokerage-accessible exposure rather than direct token custody. While spot market traders often focus on short-term chart structures, fund flows can offer a broader view of capital allocation. In XRP’s case, the recent inflow figures suggest that interest is not limited to short-term speculative activity.

This flow backdrop strengthens the case that XRP’s rally is being supported by more than just technical momentum. When inflows rise during a period of positive price action, traders often interpret the combination as confirmation that demand is broadening. If flows remain strong, the token may continue to find support on pullbacks, particularly near levels that have recently acted as breakout zones.

Wallet Growth Points to Positioning for a Bigger Move

On-chain activity is also sending a notable signal. More than 30,000 new XRP wallet addresses were created on September 16. Based on historical patterns, the last four times this level of new wallet creation appeared, XRP’s price action moved decisively in the direction of the dominant trend.

New wallet growth does not guarantee a rally by itself. Wallet creation can reflect many forms of activity, including user onboarding, exchange-related movements, portfolio segmentation, or speculative preparation. Still, when a spike in new addresses appears during an established uptrend, technical traders often treat it as evidence that participation is expanding.

In the current setup, the dominant trend remains constructive. XRP has already recovered from a brief pullback and moved back into rally mode. If the historical pattern around wallet creation repeats, traders could interpret the September 16 surge as a sign that market participants are preparing for another strong directional move.

Bull Flag Breakout Keeps $1.80 and $2.10 in Focus

From a technical perspective, XRP appears to have resumed its rally after a brief 2-day pullback. Chart watchers are focused on a bull flag pattern breakout, which is commonly viewed as a continuation structure when it forms after a strong upward move. In this setup, price rallies sharply, consolidates in a relatively tight pattern, and then breaks higher if buyers regain control.

The initial upside level being watched is $1.80. That target has become a near-term reference point for traders looking for follow-through after the breakout. If XRP can hold its momentum and avoid a failed breakout, the next leg higher could extend toward $2.10 in the coming weeks.

The $2.10 target comes from using the size of the flag’s pole as a reference for estimating the potential continuation move. This method is common among technical traders, though it remains a projection rather than a certainty. A continuation toward $2.10 would likely require sustained buying pressure, supportive market sentiment, and no major breakdown in broader crypto risk appetite.

Momentum indicators are currently helping the bullish argument. The Relative Strength Index has moved above its signal line and past the 60 mark, a development that suggests buyers are still in control of the price action. An RSI reading above that zone often reflects improving momentum without necessarily implying that the market has reached an extreme condition.

What Could Challenge the Bullish XRP Setup?

The bullish case for XRP is clear, but it is not without risks. The first major risk is the Bitget hack itself. If stolen XRP-linked funds begin moving in a way that creates sell pressure or sparks broader concern, sentiment could shift quickly. Traders will also monitor whether any response from Ripple or other ecosystem participants triggers renewed debate about centralization.

The second risk is technical. Bull flag breakouts can fail if buyers do not defend the breakout area or if volume fades. A sharp reversal after a breakout can trap late buyers and force a fast reassessment of the chart. For that reason, technical traders are likely to watch whether XRP can maintain strength after reaching $1.60 and continue building toward $1.80.

The third risk is broader market appetite. The crypto market is currently benefiting from a risk-on tone, but sentiment in “Greed” territory can be vulnerable to sudden reversals. If capital rotates away from risky assets or if macro conditions sour, XRP could face pressure even if its own on-chain and ETF data remain supportive.

Outlook for XRP

XRP’s ability to rally despite the Bitget hack shows that bullish momentum remains intact for now. The combination of nearly 10% gains in the past 24 hours, a move to $1.60, strong ETF inflows, and a spike in new wallet creation gives technical traders a credible case for further upside.

The immediate focus is $1.80, while $2.10 remains the more ambitious mid-term level if the bull flag breakout continues to develop. The market is also likely to keep watching the stolen funds, Ripple’s silence, and whether the broader crypto rally can stay supported by risk appetite. For now, XRP is trading as if momentum and inflows are outweighing exchange security concerns.

Frequently Asked Questions (FAQs)

Why is XRP rising despite the Bitget hack?

XRP is rising because traders appear to be focusing on bullish technical momentum, ETF inflows, and stronger on-chain activity. The token has gained nearly 10% in the past 24 hours and reached $1.60 even though Bitget disclosed major losses.

How much did Bitget lose in the hack?

Bitget disclosed total losses of around $351.6 million after unauthorized transfers were detected from some of its hot wallets at 18:31 UTC on September 24, 2026.

Were XRP tokens involved in the stolen funds?

On-chain data indicates that a large portion of the stolen funds includes XRP tokens within the XRP Ledger, which has increased market attention on how those assets may be handled.

Are Bitget user funds safe?

Bitget said user funds remain safe because the losses are covered by its User Protection Fund. The exchange also said it is working with authorities, blockchains, and other exchanges to block addresses involved in the hack.

Has Ripple commented on the stolen XRP funds?

Ripple has not yet commented on any potential actions regarding the stolen XRP-linked funds. Market participants are watching closely because intervention in stolen funds can raise decentralization questions.

What is the next XRP price target?

Technical traders are watching $1.80 as the initial upside target after the bull flag breakout. If momentum continues, $2.10 is being discussed as a possible mid-term objective.

Why are new XRP wallets important?

More than 30,000 new XRP wallet addresses were created on September 16. Historically, similar spikes have appeared before decisive price moves in the direction of the dominant trend.

How much money has flowed into XRP ETFs?

XRP-linked exchange-traded funds have attracted $52 million in the past 3 days, bringing monthly inflows to $95 million.

What could invalidate the bullish XRP outlook?

The bullish setup could weaken if the bull flag breakout fails, if stolen funds create sell pressure, or if broader crypto market sentiment turns sharply away from risk assets.