The XRP community recently expressed concerns on social media platform X after discovering that Binance, the world's largest cryptocurrency exchange, temporarily suspended XRP withdrawals via the XRP Ledger (XRPL) network.
Community Reaction to the Suspension
Edward Farina, Head of Social Adoption at XRPHealthcare, was among the first to highlight the issue, urging XRP holders to move their tokens off centralized exchanges:
BREAKING: Binance has SUSPENDED the withdrawal of XRP.
Get your crypto out of exchanges!!!
XRP enthusiast "XRP Whale" also shared the news with a note of concern:
"What is going on?"
Understanding Binance's XRP Withdrawal Suspension
According to Binance's official communications:
- The exchange periodically conducts wallet maintenance across various networks
- These maintenance periods may temporarily affect deposit/withdrawal services
- Trading services remain unaffected during these periods
In this specific case:
- Binance cited "high withdrawal volumes" as the reason for the temporary pause
- The suspension aimed to prevent processing delays
XRP withdrawals remained available via other networks:
- Ethereum ERC-20
- BNB Smart Chain (BEP-20)
The suspension notice has since been removed, indicating completed maintenance.
Clarifying XRP and Ripple Terminology
Community figure Mason Versluis used this opportunity to clarify an important distinction:
- XRP: The native cryptocurrency of the XRP Ledger
- Ripple: A separate payment technology company
This clarification addresses the common misconception that has led some platforms to incorrectly label XRP-related services as "Ripple" network options.
FAQ: Binance's XRP Withdrawal Suspension
Why did Binance suspend XRP withdrawals?
The exchange temporarily paused XRPL withdrawals due to high volume and scheduled wallet maintenance.
Were other XRP withdrawal methods affected?
No, ERC-20 and BEP-20 XRP withdrawals remained available during this time.
How long did the suspension last?
While exact timing wasn't specified, the notice was removed shortly after community reports.
Should I move my XRP off exchanges?
👉 Many experts recommend self-custody for long-term holdings, though exchange wallets remain convenient for active trading.
Is this suspension related to Ripple the company?
No, this was a routine Binance operational matter unrelated to Ripple.
Did this affect XRP's price?
The temporary suspension showed no significant impact on XRP's market price.
Key Takeaways
- Centralized exchanges occasionally perform necessary maintenance
- Multiple withdrawal options provide redundancy
- Understanding the XRP/Ripple distinction remains crucial
- 👉 Self-custody solutions offer alternative storage methods
Disclaimer: This content is for informational purposes only and should not be considered financial advice. Always conduct your own research before making investment decisions.