Binance Hack Sparks Rare Bullish Setup, Says Expert Trader
Trader DonAlt draws parallels between the $6.3B Binance hack and the 2022 FTX market bottom, suggesting a potential bullish reversal.
Trader DonAlt draws parallels between the $6.3B Binance hack and the 2022 FTX market bottom, suggesting a potential bullish reversal. XRP (XRP) is trading at ₹119 ($1.25), down 0.8% since this brief published. This is an original Token Times brief based on reporting by U.Today, with live market data added, as of Sun, 01 Nov 2026 12:15:01 UTC.
The analysis suggests that the Binance hack, despite its severity, could signal a market bottom similar to the one seen after the FTX collapse, potentially leading to a significant market reversal.
- Binance hack likened $6.3 billion, sparking market uncertainty.
- Trader DonAlt sees potential for bullish reversal, comparing to FTX bottom.
- Current market conditions mirror post-FTX sentiment.
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- Binance Hack Sparks Rare Bullish Setup, Says Expert Trader — this brief
The recent $6.3 billion hack on Binance, one of the largest cryptocurrency exchanges, has sparked widespread concern and uncertainty in the market. However, according to expert trader DonAlt, this event could set the stage for a rare bullish reversal.
DonAlt, who accurately predicted 
XRP's 700% rally, argues that the current situation mirrors the market conditions following the FTX collapse in 2022. He believes that the market could experience a similar bottoming pattern, potentially leading to a significant recovery.
This perspective is based on the idea that major security breaches, while initially causing panic, can sometimes lead to increased scrutiny and improvements in security measures, which can ultimately bolster market confidence.
Currently, the total cryptocurrency market cap stands at $2.69 trillion, with 
Bitcoin showing a modest 24-hour gain of 0.79%. The overall market sentiment, as indicated by the Fear & Greed index, remains in 'Fear' territory at 34, suggesting that the market is still cautious.
XRP, the cryptocurrency at the center of DonAlt's previous prediction, is currently trading at $1.26, with a 24-hour increase of 0.65% but a 7-day decline of 2.92%. This indicates that while there may be some short-term optimism, the long-term trend remains uncertain.
Since this brief published about 2 hours ago, XRP (XRP) has moved from ₹119.76$1.26 to ₹118.81$1.25 — -0.79%.
The chart plots XRP's price: grey is the move before this brief published, the vertical dashed line marks the moment it published, the horizontal dashed line is the price then, and the coloured area is the move since — from Token Times's market data (daily resolution). It shows what happened after the news, not that the news caused it; many factors move prices. Not financial advice.
At today's peer-to-peer rate, 1 XRP ≈ ₹129.38 (about $1.25), up 0.4% over 24 hours. The rupee itself trades about 8.9% above the official rate on the P2P market, so a Indian buyer's effective cost differs from the headline dollar price.
Live market data
Current prices for the asset in this story — live, source-stamped, updated every 15 minutes.
Binance Hack Sparks Rare Bullish Setup, Says Expert Trader — questions & answers
What is the significance of the Binance hack for the market?
Despite initial panic, the hack could lead to a market bottom and potential reversal, similar to the post-FTX scenario.
How does DonAlt's analysis compare to current market conditions?
DonAlt's analysis suggests that the market is in a similar position to the post-FTX bottom, with potential for a bullish reversal.
What is the current state of the cryptocurrency market?
The total market cap is $2.69 trillion, with Bitcoin up 0.79% and the Fear & Greed index at 34, indicating a 'Fear' sentiment.
How much is 1 XRP worth in rupee today?
About ₹129.38 at the live peer-to-peer (P2P) USDT rate, which is what Indians typically trade at — equivalent to roughly $1.25. The rupee price moves with both XRP's US-dollar price and the USDT/INR rate; use our XRP in rupee page for any amount.
Has XRP's price moved since this brief was published?
XRP is down 0.79% since this brief first published — trading at ₹119 ($1.25) now versus ₹120 ($1.26) at publication. Token Times re-checks this figure against CoinGecko and Binance every 15 minutes.
Which outlets reported this story?
This is an original Token Times brief that synthesises reporting from U.Today. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original Token Times brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.