XRP Bounces Back to $1.55 After Bitget Hack, but Stolen Coins Loom

XRP's price has rebounded to $1.55 after a significant theft at Bitget, where hackers stole over $351 million, including $157 million worth of XRP.

The stolen coins have not yet entered the market, with only a small portion moved from one wallet, leaving the rest untouched in five wallets.

This 'overhang' represents a significant supply that could impact prices if released into the market quickly.

However, fund buying has resumed, with spot XRP ETFs purchasing around $38 million over two days, totaling about $80 million for the month so far.

The question remains whether XRP can maintain its level above $1.55 through quarter-end on September 30, particularly if the stolen coins are released gradually and fund demand absorbs the selling pressure.