XRP Price Surges After Bitget Hack Despite Bullish Momentum

The XRP price has surged by nearly 10% in the past 24 hours, reaching $1.60 despite news of a hack on Bitget, one of the largest centralized exchanges in the crypto space.

Bitget confirmed the hack on September 25, stating that user funds remain safe and are covered by their User Protection Fund.

The exchange is actively working with authorities to block the addresses involved in the hack.

Ripple's actions regarding the stolen XRP funds will be scrutinized as decentralization is a key characteristic of blockchain technology.

Despite the Bitget news, the crypto market continues to rally after last week's interest rate decision by the Federal Reserve.