As the cryptocurrency market faced mounting stress, the exchange Bitrue shared a message with its followers this week.
The post declared, “Before every rebound comes a dump,” explicitly mentioning XRP and advising the community to stay vigilant.
Bitrue’s statement gained widespread attention following a steep sell-off that dragged the token down past the $1.25 threshold.
Before every rebound comes a dump
Keep your eyes open for $XRP https://t.co/FDsbivmNez
— Bitrue (@BitrueOfficial) November 3, 2026
A Market Already on Edge
The downward slide extended far beyond XRP. On October 29, hackers reportedly connected to North Korea stole more than $6 billion from Binance, marking what analysts described as the largest crypto hack in history. Binance suspended trading as the security breach unfolded.
Fredrick Collins, CEO and co-founder of crypto data platform Velo Data, pointed out that rumors surrounding the hack directly pulled down coin prices. He explained that because of Binance’s massive market dominance, any damage to confidence in the platform sends shockwaves across the entire ecosystem.
Bitcoin slipped below $76,500, while the broader crypto market suffered a 2.2% decline, hitting a low of $2.61 trillion.
XRP Takes the Hit
XRP plummeted 17% in its steepest one-day decline since 2025, tumbling under $1.25 and extending its weekly losses to nearly 30%, which dragged its market capitalization down to $75 billion. Highlighting the extent of the damage, the Watcher.Guru account on X noted that BTC dipped below $66k, ETH fell under $2,250, XRP dropped below $1.25, and SOL went under $95.
Having already entered a consolidation phase following its surge at the end of September, XRP’s drop appeared to stem from general market sentiment rather than any project-specific problems.
XRP Army Responds
Reactions among the XRP community proved mixed. Several users pushed back strongly against Bitrue, with one labeling the exchange’s operators pathetic, while another dismissed the announcement entirely by stating that nobody believed what Bitrue was sharing.
Conversely, not everyone held a pessimistic outlook on XRP. One user argued that the token had weathered the storm better than most other digital assets relative to the wider market. This user indicated that XRP was starting to break out of its downtrend, outlining future resistance levels at $1.50, $2.10, and $2.40.
Another commentator emphasized that patience remains vital during environments like this, pointing out that premier opportunities frequently emerge when market conditions test the resolve of investors.
What Comes Next?
Observers noted that even the 2022 collapse of FTX—a larger event than the Binance breach—only inflicted a temporary blow on the market. Recovery followed within days, and the market is currently regaining its footing, with analysts still making bullish predictions for the end of the year.