Crypto commentator Virtual Bacon believes XRP has already hit its lowest price at $1.
However, he says the coin could drop further if the Binance hacker sells the XRP still in his possession.
In a recent post on X, Virtual Bacon explained that the hacker’s remaining XRP could create selling pressure and push the price down to around $1.10 instead of the $1.20 he previously expected. He added that the stolen XRP cannot be frozen, meaning the hacker can sell it at any time.
Buying Opportunity
Despite this possibility of a bearish event, Virtual Bacon remains confident in XRP. He said he would see a drop to $1.10 as another opportunity to buy more rather than a reason to worry.
For context, the potential selling pressure stems from the $6.3 billion crypto theft involving Binance. The hacker stole nearly $300 million in XRP on October 29.
Since XRP transactions cannot be reversed and the tokens cannot be frozen by a central authority, the stolen XRP could be sold on the market. This could increase supply and make it harder for XRP to recover, especially if the wider crypto market remains weak.
Still, Virtual Bacon has not changed his bullish outlook. He believes XRP’s $1 level remains its market bottom and says he is prepared to buy more if the price falls to $1.10.
Virtual Bacon Sees a 95% Chance of an XRP Bull Run
Virtual Bacon is also optimistic about the wider crypto market. He believes XRP, Ethereum (ETH), and Solana (SOL) have a 95% chance of experiencing a bull run if Bitcoin also starts rising.
On the other hand, he said that altcoins may struggle to gain value if Bitcoin remains stuck at its current levels. In his view, Bitcoin’s performance will determine whether XRP and other major altcoins can begin another strong rally.
3/x That's why I'm still bullish on them.
I'd put about a 95% chance on a bull run for $ETH, $SOL and $XRP, as long as Bitcoin has a bull run. That relationship is there
— VirtualBacon (@virtualbacon) November 2, 2026
XRP Price Is Still Down 16.3% Over the Past Month
XRP is showing some signs of recovery after recent losses. According to CoinMarketCap, XRP is trading at $1.27, up 1.87% over the past 24 hours. However, it is still down 16.3% over the last month.
This shows that although XRP has made a small recovery, it has yet to fully recover from its recent decline.
Virtual Bacon still believes XRP has found its bottom, but he is prepared for another drop to $1.10. He also believes Bitcoin must start rising again before XRP and other major altcoins can experience another major bull run.