Key Points
XRP fell 4.2% over 24 hours after hackers drained $6.3 billion from Binance's hot wallets in the largest crypto theft ever.
The first $300 million stolen was XRP, and while Ripple helped freeze RLUSD tied to the hack, it can't do the same for XRP.
Ripple's stablecoin offers the stability and security banks value in a way XRP doesn't, which makes the case for staying away from XRP.
XRP(CRYPTO:XRP) is down 4.2% in the last 24 hours as of 1:23 p.m. ET on Friday, Oct. 30, after a $6.3 billion hack of Binance -- the largest crypto exchange in the world -- rocks the industry.
The S&P 500 and the Nasdaq Composite are down 1.8% and 3.1%, respectively.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again.In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
How the record Binance hack hit XRP first
Hackers emptied Binance hot wallets -- internet-connected wallets exchanges use to keep funds available for everyday trading -- stealing 10 different cryptocurrencies on Thursday night. The group drained $6.3 billion in total, making it the largest crypto theft ever.
Blockchain tracker Arkham said the first $300 million out the door was XRP.
Image source: Getty Images.
Why Ripple can freeze its RLUSD stablecoin but not XRP
Ripple, the company behind XRP, helped freeze about $200 million in RLUSD, its stablecoin. However, the company isn't able to do the same for XRP, the native token of the XRP Ledger.
It's another reminder in my mind that Ripple's stablecoin is a more attractive product for the banks and financial institutions that are essential to Ripple's growth efforts. These are clients who value stability and security above all else, and RLUSD provides that in a way that XRP does not. It's why I think investors should stay away from XRP.
Should you buy stock in XRP right now?
Before you buy stock in XRP, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and XRP wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $334,631!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,312,844!*
Now, it’s worth noting Stock Advisor’s total average return is 893% — a market-crushing outperformance compared to 213% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of October 30, 2026.
Johnny Rice has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends XRP. The Motley Fool has a disclosure policy.