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Last Time This Happened, XRP Skyrocketed by 114%

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XRP Realized Losses Compared to Price Moves. Source: Santiment


If history is to repeat now, XRP could go beyond $3.00.

Ripple’s cross-border token became one of the most volatile assets in the cryptocurrency space after the 2024 presidential elections in the US, going from $0.60 to over $3.60 within less than a year, before it crashed to $1.11 earlier this month.

Following this 70% decline from July 2025 to February 2026, the token has seen its “largest on-chain realized loss spike since 2022,” said Santiment. However, this could be a blessing in disguise for token holders.

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The analyst from the analytics company noted that the last time such massive realized losses were recorded, of -$1.93 billion, the underlying asset exploded by 114% in the following eight months. If such a spectacular price increase is to repeat now, it would put XRP’s valuation at over $3.00.

“Significant realized losses happen when a large number of investors sell their coins at a price lower than what they originally paid. This usually coincides with fear taking over. When traders panic and capitulate, they lock in their losses instead of holding and hoping for a rebound,” explained the company.

However, the analysts added that while this might feel negative in the short-term, it can be an important price signal for the longer run.

If the so-called weak hands have already sold, fewer sellers are left to push the asset lower. Or, as Santiment put it: “a wave of heavy realized loss can mean that much of the damage has already been done.”

Additionally, the analysis reads that such large increases in realized losses occur near market bottoms because “extreme fear tends to peak before price does.”

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“Once sellers are exhausted, even a small amount of new buying pressure can push prices higher. That does not guarantee an immediate rally, but it increases the probability of a bounce. “

XRP Realized Losses Compared to Price Moves. Source: Santiment
XRP Realized Losses Compared to Price Moves. Source: Santiment

 

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Crypto World

Drift Seeks Contact With The Hacker After $280M Exploit

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Drift Seeks Contact With The Hacker After $280M Exploit

Drift Protocol, a Solana-based decentralized exchange (DEX), said Friday it had opened onchain contact with wallets tied to funds stolen in the exploit that outside firms have estimated at roughly $280 million to $286 million.

Drift said on X that it had initiated onchain contact with wallets holding the stolen Ether (ETH), seeking to open a line of communication.

The team sent onchain messages from its Ethereum address (0x0934faC) to four wallets linked to the exploiter at the time of publication, urging the attacker to reach out via Blockscan chat. “We are ready to speak,” Drift said.

Onchain messaging has become a common tactic in exploit response, allowing protocols to communicate directly with attackers while preserving anonymity. In past cases, such as the Euler Finance hack, similar outreach led to the partial recovery of funds.

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Drift’s onchain message to the Drift Exploiter on Friday. Source: Etherscan

Anonymous sender tries to pressure the attacker

Drift’s communication came hours after an unknown sender using the ENS name readnow.eth also reached out to wallets linked to the attacker on Thursday via onchain messages.

The sender claimed to know the identities behind the attack and demanded a payment of 1,000 ETH in exchange for withholding information.

Source: Etherscan

The claims could not be independently verified and may represent an attempt to mislead or pressure the wallet holder. The incident highlights how, alongside official communications, unverified messages can circulate onchain after crypto exploits.

Solana fallout keeps spreading

According to SolanaFloor, Drift’s exploit has so far affected at least 20 Solana protocols, including the decentralized finance (DeFi) platform Gauntlet, which was estimated to be impacted to the scale of $6.4 million.

Blockchain security platform Cyvers said the impact was still expanding as of Friday morning, with no funds being recovered 48 hours past the attack.

Cyvers said that the attack was likely a “weeks-long, staged operation,” noting that the attacker set up durable nonces, a Solana feature allowing users to pre-sign transactions for future execution, days before the exploit.

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Related: Crypto hackers steal $169M from 34 DeFi protocols in Q1: DefiLlama

“This closely mirrors the Bybit hack, different technique, same root issue: signers unknowingly approving malicious transactions,” Cyvers added.

Some industry observers, including Ledger chief technology officer Charles Guillemet, suggested the exploit may involve North Korea-linked actors, though details remain unconfirmed.

Magazine: Nobody knows if quantum secure cryptography will even work

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