XRP Price Holds Above $1 as Bridge Exploit Drains Nearly 200,000 XRP

XRP price remained above $1 despite an exploit targeting its bridge verification system.

The incident, which occurred on August 9, resulted in nearly 200,000 XRP being drained from the bridge's reserves. The operator of the bridge, tx, halted operations after discovering the vulnerability and began evaluating possible remedies.

CertiK data confirmed that 199,916 XRP was stolen, with a balance of 493.5 XRP remaining in the bridge's reserve wallet. The security firm reported that no private keys or XRP Ledger protocol components were compromised, limiting the incident's direct impact on XRP price performance.

Binance futures positioning remained elevated, with open interest standing at 435.1 million XRP, above its 30-day average of 403.6 million XRP. This left XRP exposed to larger liquidation pressure in case of a sharp directional move.