SanDisk Corporation (NASDAQ: SNDK) shares plunged nearly 9% to approximately $1,216 in Friday’s premarket trading despite reporting stronger-than-expected fiscal first-quarter earnings and issuing an upbeat outlook.
The decline came amid concerns about slowing NAND flash memory price increases and the sustainability of the chipmaker’s unusually high profit margins.
The premarket selloff followed a 5.32% decline during Thursday’s regular session, when SanDisk closed at $1,330.05 before releasing its financial results after the closing bell.
SanDisk reported fiscal first-quarter 2027 revenue of $11.03 billion, up 378% year over year and above analysts’ expectations of approximately $10.7 billion. Adjusted earnings reached $49.51 per share, exceeding the consensus estimate of $47.15.
However, sequential revenue growth slowed to 23% from 51% in the preceding quarter, even as sales and earnings exceeded forecasts.
The composition of revenue growth also changed. Higher shipment volumes accounted for approximately 60% of the sequential increase, while higher pricing contributed 40%. In the previous quarter, pricing had generated roughly two-thirds of revenue growth, with volumes accounting for the remainder.
Chief Financial Officer Luis Visoso said during Thursday’s earnings call that SanDisk expected modest additional pricing increases in the second quarter and throughout fiscal 2027.
Consumer revenue fell 29% sequentially to $397 million, which management attributed to the market adjusting to higher prices. Meanwhile, data-center revenue climbed 61% to $4.80 billion, accounting for approximately 43.5% of total quarterly sales. Chief Executive Officer David Goeckeler cited growing demand for the company’s products as a driver of its data-center expansion.
Adjusted gross margin rose to 85.1% from 84.6% in the preceding quarter, supported by higher shipment volumes and pricing.
For fiscal second quarter 2027, SanDisk forecasts revenue between $12.2 billion and $12.6 billion, adjusted earnings of $55 to $57 per share, and adjusted gross margins of 84.5% to 85.5%.
Morningstar Warns of NAND Pricing Risks Despite Strong Data-Center Sales
The research firm said elevated memory prices continued to support SanDisk’s financial performance but maintained that another industry downturn could follow the current pricing cycle.
Morningstar expects memory manufacturers to expand production capacity between 2027 and 2029, potentially increasing supply enough to push prices lower. The firm also questioned whether long-term customer agreements would fully protect manufacturers during a downturn, arguing that customers could seek to renegotiate contracts if market prices fall substantially.
SanDisk Stock Split and Share Performance
SanDisk also announced an eight-for-one forward stock split alongside its earnings results. The second-quarter adjusted earnings forecast is expressed on a pre-stock-split basis.
Shareholders of record on November 9 will receive seven additional shares for each share held, with distribution scheduled for November 19 and split-adjusted trading expected to begin on November 20, 2026.
The split will increase the number of outstanding shares without changing SanDisk’s overall market capitalization or shareholders’ proportional ownership.
Despite the latest decline, SanDisk had gained approximately 460% year to date through Thursday. Friday’s indicated premarket price placed the shares about 13.4% below Wednesday’s closing level of $1,404.77 and roughly 48% below their 52-week high of $2,354.39.
Separately, SanDisk Tokenized bStocks (SNDKB) was trading at $1,220.30, down 11% over the preceding 24 hours, according to CoinMarketCap. The tokenized instrument trades separately from SanDisk’s Nasdaq-listed shares, and its 24-hour percentage change is measured over a different period.
XRPL validator Vet has argued that the $6.28 billion Binance hack highlights an important advantage of native crypto assets like XRP over non-native assets like RLUSD.
In an X post, Vet noted that the attacker was actively converting stablecoins into native assets such as Ethereum (ETH) to avoid being frozen by issuers.
He then used the incident to challenge earlier arguments that RLUSD could eventually replace XRP in its role on the XRP Ledger. His point is that native assets like XRP have an advantage because they are not controlled by a central issuer, unlike stablecoins such as RLUSD.
“The Binance hacker knows more about the advantages of native assets than all the people telling me RLUSD will replace XRP,” the validator added.
XRP Community Reacts to Vet’s Comments
Vet’s comments sparked reactions across the XRP community. Some people agreed that the incident demonstrates why native cryptocurrencies are valuable.
XRP influencer Alex Cobb reacted with laughter, while another community member defended XRP’s long-term importance, saying, “XRP is the end game.” Another user, W!nter, joked that the hacker converting RLUSD into XRP could push XRP’s price higher.
However, not everyone agreed with Vet. One Japanese user argued that those concerned about RLUSD replacing XRP often make that argument in the context of international payments. He stressed that whether XRP can be frozen is often irrelevant to those discussions.
Instead, critics worry that RLUSD is taking over some of the roles that XRP originally performed within Ripple’s ecosystem and on the XRP Ledger.
Binance Hack Included $296 Million in XRP
Blockchain analyst Dickson Wu reported that Binance hot wallets lost approximately $6.3 billion in assets across eight different blockchains. According to his report:
Ethereum (ETH): $3.74 billion stolen.
Bitcoin (BTC): $1.47 billion stolen.
XRP: $296.5 million stolen.
Other stolen assets came from Tron, Solana, Arbitrum, and Optimism. The stolen funds also included approximately $88.5 million in RLUSD, $1.87 billion in USDT, and $823 million in USDC.
Wu also explained how the hacker moved the funds. In one transaction, Binance attempted to send 42.75 million RLUSD to the attacker’s XRP account, but the transfer failed because the account did not exist.
Eight seconds later, Binance sent approximately 185 million XRP to the same address, thereby creating the account. The attacker then emptied four other Binance XRP wallets.
Wu added that several companies, including Circle, Tether, Ripple, World Liberty, and Paxos, froze more than $3 billion in stolen assets.
Why This Matters for XRP and RLUSD
The hack has renewed discussions about the differences between stablecoins and native cryptocurrencies.
RLUSD is a stablecoin issued by Ripple that maintains a value of $1. It can be used for payments and transactions on the XRP Ledger.
XRP, on the other hand, is the network’s native cryptocurrency. It can also be used to transfer value between different currencies and tokens.
Vet’s main argument is that XRP and RLUSD serve different purposes. Unlike RLUSD, XRP is not controlled by a central issuer that can freeze funds.
He believes this makes native cryptocurrencies important, especially when users want to move funds without depending on a company to approve or control their transactions.
Amazon (NASDAQ: AMZN) shares sank more than 7% to around $226 in Friday’s premarket trading after the company’s third-quarter earnings and revenue fell short of Wall Street estimates.
The results also showed a sharp deterioration in free cash flow amid heavy spending on artificial intelligence infrastructure, even as growth at Amazon Web Services (AWS) accelerated.
The e-commerce and cloud computing giant reported third-quarter revenue of $201.94 billion, up 12% year over year but below analysts’ $202.21 billion estimate. Earnings of $1.89 per share also missed the $1.97 consensus forecast.
Amazon said Prime Day took place in the second quarter in most large countries in 2026, after falling entirely in the third quarter in 2025. The company estimated that third-quarter year-over-year revenue growth would have been approximately four percentage points higher without the timing shift.
Amazon forecast fourth-quarter revenue of $240 billion to $247 billion. The midpoint of $243.5 billion was slightly below the $244.51 billion analyst consensus compiled by LSEG, although the full guidance range included that estimate.
Amazon’s AI Spending Drives $42.4 Billion Free Cash Flow Outflow
Amazon reported negative free cash flow of $42.4 billion for the 12 months ended September 30, 2026, compared with positive free cash flow of $14.8 billion a year earlier.
The company attributed the deterioration primarily to a $94.8 billion year-over-year increase in purchases of property and equipment, net of sales proceeds and incentives. The additional spending largely reflected investments in AI infrastructure.
Operating cash flow nevertheless increased 29% to $168.3 billion over the same 12-month period, but higher infrastructure spending more than offset the increase.
Amazon maintained its forecast for approximately $220 billion in cash capital expenditures during 2026, with the majority allocated to AWS. During Thursday’s earnings call, CEO Andy Jassy said the company expects to spend meaningfully more in 2027.
AWS Growth Accelerates to Fastest Pace in Nearly Five Years
AWS revenue increased 39.3% year over year to $46 billion in the third quarter, accelerating from 37% growth in the previous quarter. The result exceeded the $45.61 billion analyst estimate compiled by LSEG and marked the cloud division’s fastest growth in nearly five years.
AWS operating income rose to $17.8 billion from $11.4 billion a year earlier. Amazon’s overall operating income increased to $28.1 billion from $17.4 billion, while its operating margin reached a company-record 13.9%.
Despite the higher operating profit, diluted earnings declined from $1.95 per share a year earlier. Amazon attributed the decrease primarily to $9.5 billion in pretax gains from its Anthropic investments recorded in the prior-year quarter.
Jassy said AWS’s backlog of contracted business had reached $578 billion, up from $496 billion at the end of the second quarter. He also projected AWS revenue growth exceeding 40% in both 2027 and 2028.
Amazon shares had already fallen 4.25% to $243.79 during Thursday’s regular trading session, before the earnings release. At $226 in Friday’s premarket trading, the stock was roughly 11.2% below Wednesday’s $254.60 closing price.
Separately, Amazon Tokenized bStocks (AMZNB) was trading at $226.34, down 10.16% over the preceding 24 hours, according to CoinMarketCap. The tokenized instrument trades separately from Nasdaq-listed AMZN, and its 24-hour performance covers a different trading period.
Analyst KhaldHegazy expects Cardano to extend its prolonged decline, potentially falling to $0.092 before reaching a deeper low of $0.0715.
The analyst initially outlined the bearish forecast in mid-October and reaffirmed it in the early hours of October 30. He maintains that Cardano’s projected downside remains in play, particularly after the token fell below $0.20 to $0.1936.
Cardano’s Final Downward Wave Imminent?
According to KhaldHegazy’s weekly chart, ADA has followed a prolonged downward structure since its late-2024 decline. His wave-count analysis suggests that the token has completed the penultimate wave, labeled XX, and is now approaching the final bearish wave.
The chart also highlights a shaded resistance zone between $0.24 and $0.30, which represents a significant price area. KhaldHegazy labeled this region “Test” and identified $0.2851 as the level that would invalidate his bearish projection if ADA recovered above it.
Notably, ADA traded around $0.28 earlier this month before reversing lower. However, the token has since fallen below the highlighted zone and now trades around $0.1936, keeping the analyst’s downside scenario in focus.
ADA Faces Potential 52%–63% Decline
KhaldHegazy identified $0.092 as ADA’s first downside target. Moreover, his chart suggested that if ADA falls below that level, the price could head towards the second bearish target of $0.0715.
The latter target sits close to the historical low of $0.0693 marked on the chart. From ADA’s price of $0.1933, a decline to $0.092 would represent a drop of about 52%. Meanwhile, a fall to $0.0715 would extend the potential loss to 63%.
KhaldHegazy Cardano Chart
Binance-Related Hack Adds to Market Pressure
ADA’s latest decline comes amid broader cryptocurrency market pullback following reports of a $6.3 billion Binance-related hack. Bitcoin, Ethereum, and other major digital assets have also recorded losses as concerns surrounding the incident weighed on market sentiment.
At press time, ADA had declined 2.26% over the past 24 hours. Bitcoin and Ethereum had also dropped 1.69% and 2.01%, respectively.
Furthermore, Cardano had lost 21% over the past month, underscoring its persistent weakness and the challenges it faces in recovering recent losses.
Elon Musk is taking a swipe at Binance co-founder Changpeng Zhao (CZ) following the recent $6 billion hack.
Musk reacted with a fire emoji and a laughing emoji to a post CZ had shared two days earlier that warned crypto users against clicking links in emails or downloading attachments.
CZ had cautioned that even emails from trusted contacts could be dangerous because the sender’s computer might unknowingly be infected with a virus.
Musk’s reaction comes amid Binance’s security incident, which has triggered an industry-wide effort to trace and freeze the stolen funds. He appeared to highlight the irony of CZ advising crypto users about security awareness only to see Binance suffer the largest crypto heists in history a day later.
Crypto investigator Dickson Wu revealed that Binance hot wallets lost $6.28 billion across eight blockchains. Ethereum accounted for the largest share, at $3.74 billion. It was followed by $1.47 billion in Bitcoin and $627.5 million in USDT and TRX. Other stolen assets included XRP, SOL, and tokens on Arbitrum, Avalanche, and Optimism.
Meanwhile, crypto companies including Tether, Ripple, Circle, and Paxos have frozen over $3 billion. Investigators identify North Korean hackers as suspects in orchestrating the attack, citing on-chain connections to a previous $388 million Bitget hack.
Binance hot wallets lost ~$6.28B across 8 chains today. $6.07B went in the first 55 minutes, and the attacker kept re-sweeping one Ethereum wallet for two more hours.
Since then Tether, Circle, Ripple, Paxos, World Liberty and Binance have frozen ~$2.80B. About $3.27B can still… pic.twitter.com/USlLBo8TdK
Elon Musk: AI Agents Could Steal Billions in Crypto
Commenting on the hack, Elon Musk suggested that superintelligent AI agents could eventually steal cryptocurrency to build wealth for themselves. His comments followed reports that the Binance attacker had used the DeFi lending protocol Aave to move stolen funds beyond the reach of centralized stablecoin issuers.
Musk believes that if advanced AI agents eventually control wallets and interact independently with financial platforms, they could use similar strategies to accumulate and manage wealth for themselves.
Crypto Community Divided Over Binance Hack
Meanwhile, veteran crypto investor Eric (@econoar) replied to Musk’s post, saying that people should not judge the entire crypto industry based on security incidents involving centralized exchanges.
He also pointed to Musk’s recent interest in the connection between Hyperliquid and the New York Stock Exchange (NYSE), suggesting that the billionaire recognizes the technology’s broader potential despite criticizing CZ.
Eric added that the industry would continue to develop despite the criticism following the Binance breach. According to him, crypto and blockchain technology are bringing significant changes to the global financial system, regardless of the negative sentiment surrounding individual incidents.
CZ Says Binance Users’ Funds Are Safe
Meanwhile, Binance and CZ have reassured users that their funds are safe. The exchange says its user protection fund, SAFU (Secure Asset Fund for Users), remains in place as investigations into the breach and efforts to recover the stolen crypto assets continue.
CZ also thanked members of the crypto industry, including competitors and former critics, for their support. “It hurts, but we will survive,” CZ wrote.
User funds are SAFU!
Yet, this pregnant lady 👇 pulled an all nighter, along side hundreds of Binancians.
Many industry friends and even competitors (including some previously-not-so-friendly ones) provided very much needed help. 🙏
CZ later shared a post from Crypto_bn criticizing people in the industry for spreading fear and negative rumors about Binance during the crisis. The post called on the crypto community to support one another during major incidents rather than create further division.
On-chain data shows how hackers moved nearly $300 million worth of XRP from Binance during a major security breach that cost the exchange $6.3 billion.
On the evening of Oct. 29, blockchain monitoring platform Whale Alert flagged a large XRP outflow from Binance worth nearly $300 million. At first, the transaction looked like a regular exchange withdrawal and attracted little attention.
However, closer examination linked the transfer to what investigators now call one of the largest crypto exchange exploits in history, with a reported loss of about $6.3 billion.
Over 233M XRP Moved from Binance in 4 Minutes
The XRP transfers occurred within a four-minute window. At 8:05 PM UTC, the Binance (6) XRPL wallet activated a newly created address, rk2…zMx, by sending it 185 million XRP worth $235.8 million at the time.
Whale Alert recorded the transfer as a routine outflow, and the transaction data showed no sign of an ongoing breach. However, several more transfers followed within minutes, revealing a pattern of activity involving multiple Binance wallets.
Whale Alert indexes initial transfer of 185 million XRP from Binance
At 8:07 PM UTC, the Binance (9) wallet sent 14.69 million XRP worth $18.7 million to the same address. Within another minute, the Binance (18) and Binance (15) wallets transferred 13.14 million XRP valued at more than $16.7 million and 11.955 million XRP worth $15.23 million, respectively, to rk2…zMx.
By 8:09 PM UTC, the Binance (10) wallet had sent another 8.655 million XRP worth more than $11 million to the address.
In total, five Binance wallets transferred 233.4 million XRP valued at $297 million to a single newly activated address in just four minutes. This pattern raised concerns within the XRP community.
Over 233 million XRP transferred to newly created account from five Binance wallets in recent hack
XRPScan Flags the Address as Compromised
After receiving the transfers, the address rk2…zMx continued to hold the full 233.4 million XRP. At the time of reporting, the address had recorded no outgoing transactions since the final transfer arrived at 8:09 PM UTC.
XRPScan, a leading XRP Ledger block explorer, has since labeled the address as compromised, alerting the community that the account had been linked to a reported hack and that the assets sent to it likely represented stolen funds.
The XRP transfers marked the beginning of the broader Binance exchange hack, which reportedly resulted in losses exceeding $6 billion.
Compromised Laptop Linked to the Broader Attack
Binance’s initial investigation showed that the broader attack occurred due to a DevOps engineer’s compromised laptop. According to the exchange’s findings, the attackers used that access to enter a service container and carry out a series of unauthorized withdrawal transactions.
The exchange said its review found no evidence that attackers had obtained private keys from its wallets. This confirmed that the breach occurred at the application access level, not through a direct compromise of the cryptographic keys.
The attackers reportedly drained approximately $6.36 billion across ten different blockchains, completing most of the transactions within about 20 minutes.
Binance responded by suspending deposits and withdrawals while working with blockchain analytics firms and law enforcement agencies to trace the stolen funds and recover the assets.
These efforts allowed Binance’s partners to freeze approximately $3 billion on-chain. Tether contributed more than $1.56 billion in frozen stablecoin holdings to that total.
North Korean Hackers Identified as Suspects
Blockchain intelligence firms TRM Labs and Chainalysis identified TraderTraitor, a North Korean state-sponsored hacking group, as the likely culprit behind the breach. Both firms highlighted similarities in the attack’sexecution, the movement of assets, and the methods used to target the exchange.
Their findings also compared the Binance exploit to the February 2025 Bybit hack, which resulted in about $1.5 billion in losses. The FBI previously linked that attack to TraderTraitor.
Binance pledged to cover all losses suffered by users, using its approximately $1.2 billion Secure Asset Fund for Users (SAFU) alongside additional company funds to cover any remaining shortfall. Co-founder Changpeng Zhao also publicly backed the commitment, stating that he expected every affected user to receive full compensation.
Several cryptocurrencies, including Chainlink (LINK), Pepe (PEPE), Uniswap (UNI), and Worldcoin (WLD), could face further selling pressure after a hacker liquidated millions of dollars worth of these tokens.
According to blockchain transaction data shared by Lookonchain, the attacker sold substantial holdings of seven altcoins before converting the proceeds into Ethereum.
Hacker Sells Over $158M in Altcoins
The attacker sold around 7 million UNI tokens worth $39 million at an average price of $5.65 on-chain. ENA followed, with 217 million tokens sold for $33 million million at an average price of $0.16.
Meanwhile, the hacker sold over 7 trillion PEPE tokens for around $32 million at $0.0000041 per token. The attacker also disposed of 2.5 million LINK tokens worth $26 million.
The remaining transactions involved 127,953 AAVE tokens worth $14 million, 21.85 million ONDO tokens valued at $6.62 million, and 17.32 million WLD tokens worth $6 million.
Collectively, the sales converted the seven altcoin holdings into nearly 70,500 ETH, valued at $158 million.
Binance hacker Sells UNI, LINK, PEPE, ENA
Why the Sell-Off Could Trigger Further Losses
Large cryptocurrency sales can weigh on prices when selling volume exceeds buying demand. Furthermore, substantial liquidations by major holders can unsettle investors and encourage others to reduce their exposure.
Consequently, the hacker’s transactions could intensify selling pressure on the affected tokens as traders react to the possibility of further declines.
At press time, all seven tokens were recording losses over the past 24 hours. UNI had declined 4.38%, while ENA was down 5.57%. Similarly, PEPE had fallen 1.3%, LINK had dropped 3.51%, and AAVE had lost 3.38%. ONDO and WLD were also down 4.02% and 4.2%, respectively.
These declines indicate that the tokens were already under pressure. Nevertheless, it remains unclear whether the sell-off will intensify or whether buyers will absorb the available supply and help stabilize prices.
Binance stated that the incident did not compromise wallet private keys. Meanwhile, blockchain intelligence firm TRM Labs attributed the attack, with high confidence, to TraderTraitor, a North Korean state-sponsored hacking group.
Recovery efforts have frozen roughly $3 billion of the stolen funds on-chain. However, the attacker’s wallet still holds a reported balance of $5.79 billion. Meanwhile, Binance has reopened deposits but suspended withdrawals, with plans to restore the service within 48 hours. The exchange also pledged to cover unrecovered losses.
Elon Musk has suggested that superintelligent artificial intelligence agents will someday steal money to accumulate wealth for themselves rather than serve human interests.
The billionaire made the observation while responding to a post discussing how a hacker behind the $6 billion Binance breach allegedly used DeFi to move stolen funds beyond the reach of centralized stablecoin issuers.
“Super intelligence agents will at some point do this to gain currency for themselves, not a human,” Musk wrote.
Musk Reacts to Hacker’s DeFi Strategy
Musk was responding to crypto commentator Blaney, who described a sophisticated strategy used by the Binance hacker. He noted Tether initially froze $1.5 billion in USDT linked to the incident, while Circle froze another $800 million in USDC.
However, the hacker allegedly anticipated the possibility of centralized issuers freezing the stolen assets.
Rather than keeping the USDT in a wallet, the attacker deposited the tokens into Aave and used them as collateral to borrow Ethereum (ETH). This strategy creates a problem for the protocol and stablecoin issuers.
While Tether and Circle can freeze the stablecoins held in affected addresses, the ETH borrowed from Aave is a separate asset. Blaney argued that the attacker therefore retains access to the borrowed ETH even after the collateral was frozen.
The situation also leaves Aave exposed to bad debt if the frozen collateral cannot be recovered or liquidated to cover the outstanding loan.
Binance Hack Sparks Race to Freeze Stolen Funds
The Binance breach has triggered an extensive effort by crypto companies and blockchain investigators to trace and recover the stolen assets.
Binance said its preliminary investigation pointed to an engineer’s laptop, which allowed an attacker to access a service container and submit unauthorized withdrawal transactions.
The exchange temporarily suspended deposits and withdrawals while conducting security checks. It also revoked the affected address authorization and engaged law enforcement and blockchain intelligence firms.
Binance assured customers that user funds remained safe and said it would cover all losses using company funds and its emergency assets fund.
Meanwhile, several blockchain intelligence firms have pointed to North Korea-linked hacking groups as possible perpetrators.
TRM Labs, Pangolin Intelligence, and Chainalysis identified connections between the on-chain activity and previous attacks attributed to North Korean cyber units.
Elon Musk Comment Highlights AI Risks
Musk’s observation introduces a different dimension to the incident by considering how autonomous AI agents interact with financial systems.
He suggests that sufficiently advanced AI agents might eventually pursue their own financial interests, using cryptocurrency to accumulate resources rather than simply executing transactions for human operators.
Super intelligence agents will at some point do this to gain currency for themselves, not a human
The Binance hack shows how difficult it can be to freeze and recover stolen crypto. If AI can one day control wallets, borrow money, and use crypto platforms on its own, it could use similar tricks to steal and manage money for itself.
Hyperliquid rises 18.3% as Bitcoin loses weekend support and Ethereum nears $2,230. October 30 analysis tracks BTC, ETH, HYPE, BNB and XRP charts and levels.
The broader sell-off followed news of a suspected Binance hack, adding to pressure on Bitcoin, Ethereum, XRP and other major cryptos. Reuters reported that Bitcoin fell to a six-week low as the exchange investigated the breach.
Binance estimated the incident’s impact at approximately $6.3 billion and said around $3 billion had been frozen on-chain. The exchange temporarily suspended deposits and withdrawals and pledged to cover all losses using its SAFU fund and company funds.
Bitcoin Confirms a Break Below Weekend Support
Bitcoin closed Thursday at $77,800, down 4.29%, after reaching $81,882 earlier in the session. The subsequent decline to $77,688.10 established the lowest traded price in the latest 30 completed daily candles. The close was also below Saturday’s $79,120.80 floor, invalidating the recovery condition identified in our October 29 report.
BTC/USD closes below $79,120.80 weekend support as the daily MACD histogram widens to −380.03.
Daily MACD, using 12- and 26-period exponential averages and a nine-period signal EMA, deteriorated. The line fell to −678.76 against a −298.73 signal. The histogram widened below zero to −380.03 from −224.19. This was an expansion of an existing bearish gap, not a new line-signal crossover.
The final completed four-hour candle closed at $77,800, near its $77,688.10 low, with MACD also below its signal. Selling pressure therefore remained evident into the daily close. The latest price of $77,998 showed only a modest recovery from that settlement.
A daily close below $77,688.10 would extend the breakdown. The September 15 low at $74,891.50 is a farther historical reference, rather than an immediate forecast.
To repair the structure, Bitcoin first needs to reclaim $79,120.80, followed by Wednesday’s $80,281.80 low. A close above Thursday’s $81,882 high would invalidate the latest bearish reversal.
Ethereum RSI Approaches Oversold Territory
Ethereum closed Thursday at $2,249.01, falling 4.59% after trading between $2,230.19 and $2,376.99. The close lost Saturday’s $2,279.80 floor, which the October 28 report had identified as the boundary of the weekend recovery. Thursday’s low was the lowest in the latest 60 completed daily sessions.
ETH/USD daily RSI falls to 30.68 as price closes beneath $2,279.80 and approaches the $2,230.19 session low.
The daily 14-period RSI, calculated with Wilder smoothing, fell to 30.68 from 39.02. Momentum approached the conventional oversold threshold of 30 but had not crossed below it at the close. Proximity to that threshold does not confirm that selling has ended or that a rebound must follow.
The latest completed four-hour RSI stood at 35.31. That candle also closed at $2,249.01 after reaching $2,230.19, leaving both timeframes with weak momentum. The latest price of $2,231.74 was close to Thursday’s low, but Friday’s candle remained unfinished.
A daily close beneath $2,230.19 would confirm another downside extension. The immediate recovery test is $2,279.80, followed by Wednesday’s $2,319.54 low.
Regaining those levels would repair the broken support area. A close above $2,376.99 and then Wednesday’s $2,389.93 high would provide stronger evidence that the latest decline is being reversed.
Hyperliquid Reclaims Both Daily Averages
Hyperliquid closed Thursday at $88.79, gaining 10.02% after a wide $78.08–$97.00 session. The close cleared the $82.45 resistance identified in our October 28 report. The $97.00 high was the strongest in the latest 30 completed sessions, although price finished well below it.
HYPE/USD closes above its $81.49 and $81.86 daily EMAs after a 10.02% gain, with $97.00 still overhead.
The 20-day exponential moving average rose to $81.49 from $80.72, while the 50-day EMA increased to $81.86 from $81.57. Price closed above both. However, the faster average remained below the slower one, so the recovery did not produce a bullish daily moving-average crossover.
Daily turnover reached approximately 733,081 HYPE, or 6.71 times the preceding 20-session average on the same exchange pair. That indicates substantially greater participation in the advance. The final four-hour candle nevertheless fell from $93.92 to $88.79, showing a late-session retreat without establishing its cause.
A daily close above $97.00 would confirm a break of Thursday’s high and bring the September 23 high of $98.02 into view.
A return below $82.45 would weaken the confirmed breakout and expose the daily average area near $81.49–$81.86. Losing Thursday’s $78.08 low would invalidate the latest expansion; the broader weekend floor remains $74.33.
BNB Reverses Below Its Lower Bollinger Band
BNB closed Thursday at $696.64, down 8.27% due to the Binance hack, after first reaching $763.84 and then falling to $675.59. The session exceeded Wednesday’s high before reversing below its low, producing a broad outside-day decline. Thursday’s low was the weakest in the latest 30 completed sessions.
BNB/USD closes below its $707.61 lower Bollinger Band after reversing from $763.84 to a $696.64 settlement.
Daily Bollinger Bands, using a 20-day simple moving average and two population standard deviations, placed the midpoint at $735.00 and the lower band at $707.61. The close finished beneath the lower band. The midpoint declined from $737.25, while the band envelope widened sharply as volatility increased.
The final completed four-hour candle also closed beneath its lower band at $718.65. The latest $717.20 price represented a rebound from the daily close, but it did not constitute a confirmed daily return inside the bands. These levels will move as new candles finish.
Reclaiming Saturday’s $717.21 low at a daily close would repair an initial price threshold. Further confirmation requires the midpoint near $735.00 and Wednesday’s $740.97 low.
A close above $763.84 would overturn Thursday’s reversal. On the downside, $675.59 and the September 1 low at $674.39 form the next historical support area; losing both would extend the decline.
XRP $1.20 Support Holds as RSI Nears Oversold
XRP has bounced from the $1.20 area after a sharp two-day decline, but the daily structure remains bearish as price trades below its major moving averages and momentum stays close to oversold territory.
Binance XRP/USDT daily data shows XRP testing $1.20 support as RSI falls toward oversold territory and price remains below the 20-, 50-, and 200-period EMAs.
CoinMarketCap currently places XRP near $1.26, with a 24-hour range between $1.20 and $1.31. The latest fully closed Binance spot XRP/USDT daily candle tracked by ClosedCandle is dated Oct. 29 UTC and shows the broader daily trend still pointing down.
XRP entered Oct. 29 around $1.33 but fell as low as $1.22 before closing near $1.24. Selling continued into Oct. 30, briefly pushing price to approximately $1.20 before the rebound toward $1.26. Binance daily data therefore shows XRP losing the $1.30 area that had supported several sessions earlier in the month.
The decline coincided with a broader crypto selloff following Binance’s major security incident. Binance said its preliminary investigation identified approximately $6.3 billion in affected assets, with roughly $3 billion frozen on-chain. Bitcoin and other major cryptocurrencies also declined sharply as the incident unfolded.
Macro conditions provided little relief. The Federal Reserve kept rates at 3.75%–4% on Oct. 28 while saying inflation remained elevated, and two policymakers dissented in favor of another quarter-point increase.
The Binance daily chart shows RSI(14) at 34.1 on the latest closed candle. That places momentum below the neutral 50 level and close to the conventional oversold threshold of 30, but it does not yet confirm that selling has exhausted itself.
The moving-average structure remains more clearly bearish. XRP’s daily close was approximately 7.1% below the 20-period EMA, 8.7% below the 50-period EMA and 9.6% below the 200-period EMA. All three remain above price, showing that the current bounce has not yet changed the broader trend.
The nearest support is $1.20, today’s intraday low and a level XRP has now defended once.
From the verified $1.26 live quotation, another test of $1.20 would represent a decline of about 4.8%. A sustained daily close below $1.20 would weaken the rebound structure and could shift attention toward the approximately $1.06 region identified as the next broader daily support.
On the upside, XRP first needs to recover the $1.31-$1.33 zone, which acted as support before the latest breakdown. From $1.26, $1.33 sits roughly 5.6% higher.
A move through that area during an unfinished candle would not be enough on its own. The cleaner technical confirmation would be a completed daily close above $1.33 followed by price holding the reclaimed zone.
The next observable test is therefore straightforward: whether XRP can continue defending $1.20 and reclaim $1.31-$1.33 while daily RSI recovers from the low-30s.
Ripple recently announced that it expects its annualized product revenue run rate to reach $900 million by the end of 2026.
CEO Brad Garlinghouse shared the figure at the company’s Swell 2026 conference in New York City, describing 2026 as an exceptional year for Ripple.
He highlighted rising transaction volumes and the range of products the company offers institutional customers as major factors behind its progress.
The conference, held from Oct. 27 to 29 in New York, attracted more than 1,500 attendees and over 75 speakers from traditional finance, cryptocurrency, academia, and the wider XRP ecosystem.
The $900 million figure does not represent the total revenue Ripple has earned so far in 2026, but the annualized run rate, which projects the company’s current revenue pace over a 12-month period.
Ripple uses this measure to show how much its product business has grown. However, its actual revenue for the full year will depend on customer activity, market conditions, and demand for its products.
Ripple Sees Growth Across Multiple Products
Ripple attributed its revenue growth to increased activity across several business areas, including payments, custody, its RLUSD stablecoin, prime brokerage, and treasury management.
The company also reported that the number of customers and partners using more than one Ripple product at the same time tripled in 2026. This suggests that customers are using more of Ripple’s services instead of relying on a single product.
Ripple expects the total transaction volume processed through its payments network to approach $150 billion by the end of 2026.
Notably, Ripple holds more than 85 regulatory licenses across international markets and serves over 1,700 financial institutions and enterprises worldwide. According to the company, its growth comes from improvements to its existing products and the integration of acquisitions it completed in 2025.
RLUSD Market Cap Climbs to $2.6 Billion
RLUSD has become an important part of Ripple’s business, reaching a market cap of $2.6 billion when the company announced its revenue outlook at Swell 2026. This represents more than 88% growth since the start of the year.
Ripple launched the dollar-backed stablecoin in December 2024 after receiving regulatory approval from the NYDFS. Since then, RLUSD has expanded across several blockchain networks and gained a dominant share of stablecoin activity on the XRP Ledger.
Cross River Bank announced a partnership to integrate RLUSD into its core platform solutions on the XRP Ledger. Ripple also expanded its partnership with the Bank of New York Mellon on tokenized trade finance built on the same network.
XRP Struggles Despite Ripple’s Expansion
Meanwhile, on Oct. 26, the U.S. Office of the Comptroller of the Currency granted Ripple final approval to establish Ripple National Trust Bank.
The approval gives the company federal-level supervisory standing under the OCC and adds to its existing trust license from the New York Department of Financial Services.
Despite Ripple’s business growth, XRP has declined nearly 30% year-to-date, leaving its market cap near $83 billion.
Holding XRP does not give investors direct ownership of Ripple or a share of its product revenue. As a result, the company’s financial performance does not automatically translate into earnings for XRP holders.
However, Ripple’s growth may affect the token indirectly by increasing activity on the network and influencing investor demand.
