There is a "$REYCLE.BIN" folder in my external hard drive; can I delete it?

Personally I would not delete it, I would just disable it for that drive. It won't hurt to have on empty hidden folder on your drive.

Right click on Recycle Bin>Properties and highlight the drive. Then change the "Settings for selected location" to "Don't move files to the Recycle Bin. Remove files immediately when deleted."

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