The leading crypto exchange briefly suspended XRP withdrawals, causing traders to worry about the security of their assets.
Payments have since resumed, but issues remain. Traders are urged to take extra care when insuring their assets amid market volatility.
The suspension was first brought to attention by Edo Farina, a prominent player in the XRP community who is a video posted about the sudden shutdown.
Although payouts have since resumed, the incident raised important questions about the reliability of the exchange during periods of high market activity. The halt in XRP withdrawals caught many traders by surprise, especially since XRP has seen significant price movements. Investors eager to capitalize on the token’s price surge were unable to access and thus sell their assets, leading to frustration and concern. THE Binance did not immediately disclose the reason for the suspension, fueling speculation about possible technical glitches or liquidity problems.
A few hours later, the crypto exchange posted: “Binance has decided to take a lull in XRP withdrawals due to routine maintenance of crypto wallets. This may seem like a big deal, but in the world of digital devices, it’s actually quite normal. Think of it like updating your phone software to keep all apps running smoothly.”
However, the lesson remains: When there is massive price movement, stock markets can easily crash. Always recommend your tools in cold wallets keep, because we know: not your keys, not your crypro, that is not your keys, not your crypto.
XRP (
XRP Price ) is currently the sixth largest cryptocurrency by market capitalization. It is currently trading at $1.14, a dizzying 93% increase in one week.
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<p>The post Binance has briefly suspended XRP withdrawals first appeared on CoinBuzzFeed.</p>
