XRP Weathers $387.5M Bitget Breach as ETF Inflows and Surging Ledger Activity Offset Supply Fears

XRP trades near $1.54 despite a $387.5M Bitget breach that swept up 102.93M tokens, as spot XRP ETFs add inflows and new accounts jump 323%.

XRP is holding its ground above $1.50 even as the market absorbs a nine-figure token heist that briefly threatened to flood exchanges with stolen supply. The token changed hands at $1.54 on Friday, up 0.4% on the day, according to one reading of the tape, while a separate snapshot put it at $1.57 — a level that leaves it 20% above its 50-day average of $1.31.

The discrepancy reflects a market in motion rather than confusion. Over the past week the asset has climbed roughly 12%, and on Friday alone it advanced 5.50% within 24 hours, outpacing the CoinDesk 20 Index, which gained just 2.60% over the same stretch. That decoupling has caught the attention of strategists, who read it as evidence of XRP-specific drivers rather than a simple ride on broader crypto sentiment.

Bitget Hack Puts 102.93 Million Tokens in Play

The source of the week's turbulence was a security failure at the exchange Bitget on Thursday. Management revised its loss estimate upward on Friday to $387.5 million. CEO Gracy Chen said attackers manipulated a backend system to trigger unauthorized transfers out of hot and warm wallets.

Blockchain analytics firm Lookonchain identified 102.93 million XRP as the single largest component of the haul, worth roughly $157 million at the time of the theft. Bitget halted withdrawals in response and stressed that customer funds remain covered by its in-house protection fund.

Because the stolen tokens sit natively on the blockchain, they cannot be frozen the way a bank account might be. That leaves traders watching wallet movements for signs of where the coins might surface — and whether they will be sold into the open market. So far, the absence of panic selling has been read as a sign of durable liquidity.

Regulated Funds Keep Absorbing the Pressure

Offsetting that overhang is steady demand from US-listed spot XRP ETFs. On Wednesday, those vehicles pulled in $18.04 million in net inflows, lifting their combined net assets to $1.65 billion. A day later, the same complex attracted another $22.65 million, with Bitwise's fund accounting for $18.39 million of that total and Franklin Templeton's product adding roughly $4.26 million.

The persistence of these flows matters in a week when a criminal supply shock could have rattled confidence. Instead, professional investors appear to be adding to positions methodically, treating short-term price swings as noise rather than a reason to retreat.

New Accounts Surge 323% as Ripple Hardens Defenses

Activity on the underlying network tells a similar story of momentum. The XRP Ledger recorded 11,432 newly created accounts on Thursday — a 323% jump over the 30-day average of roughly 2,700 registrations per day.

Ripple, meanwhile, moved to shore up its development pipeline. On Wednesday the company integrated automated, AI-driven code reviews alongside a dedicated security team, aimed at catching vulnerabilities before any rollout reaches the mainnet.

Batch Upgrade Slips to October as Validators Re-Vote

On the protocol side, timelines have shifted. Activation of the Batch V1.1 amendment — designed to bundle up to eight transactions into single atomic operations — was originally slated for the coming Tuesday. It has now been pushed back to no earlier than October 9.

The delay traces to a dip below the required 80% validator approval threshold, which forced the two-week activation window to restart. The companion fixBatchV1_2 amendment is now moving through the same voting cycle alongside it. Should validator support hold steady, the ledger's technical roadmap remains broadly intact despite the short holdup.

Washington Setback Still Casts a Shadow

The market is also digesting a political disappointment from earlier in the month. On September 15, a procedural vote on the US CLARITY Act failed in the Senate after falling short of the 60-vote threshold. The bill's shelving triggered a drop of more than 9% at the time.

Ripple CEO Brad Garlinghouse had pressed senators beforehand to back the compromise text rather than hold out for a perfect draft, but his appeal went unheeded. Even so, XRP has since recovered to trade well above where it stood before that setback — a resilience that, combined with this week's ETF inflows and network growth, suggests the asset is finding firmer footing than the headlines alone would imply.