Binance, one of the world’s largest cryptocurrency exchanges, had temporarily suspended XRP withdrawals, leading to concern within the cryptocurrency community. The suspension was first brought to light by Edo Farina, who posted a video revealing the halt.
This move has raised questions and sparked uncertainty among Ripple (XRP) supporters, as it comes at a time when XRP has been seeing significant price movement. While Binance has not yet clarified the reason behind the suspension, it has drawn attention from traders and investors, who are closely monitoring the situation. Ripple enthusiasts are particularly concerned, as any disruption in XRP’s availability could affect market sentiment and trading activity.
However, Farina later took to X and said that “JUST IN: #Binance $XRP Withdrawals are back. But the lesson remains: When there’s massive price action exchanges can easily crash. Always keep your Crypto in Cold Wallets.”
XRP Price Update: Reaching Key Resistance Levels – What’s Next?
XRP has been showing promising movement recently and the price has now moved from support around 60 cents to a key resistance zone.
As of now, XRP is moving towards the $1.17 resistance level, supported by the ongoing bullish trend. Looking ahead, key target zones are between $1.26 and $1.98. These levels are derived from Fibonacci extensions, and while the price is approaching these zones, it’s important to keep in mind that XRP has shown a tendency to experience sharp pullbacks following strong rallies.
A breakout above $2 could signal a more significant bullish move, potentially leading to a strong surge. However, it’s crucial to wait for confirmation by seeing the price break above previous highs, particularly the $2 level, before assuming a sustained rally.
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- Alternative Exchanges: You can try withdrawing your XRP from other exchanges that haven't suspended withdrawals. Make sure to research each exchange's policies and fees before making a move .
- Peer-to-Peer (P2P) Trading: Platforms like LocalBitcoins or Paxful allow you to trade XRP directly with other users. Be cautious of scams and ensure you're dealing with reputable traders .
- OTC Desks: Over-the-counter (OTC) desks can facilitate large transactions without affecting market prices. This option is typically suited for institutional investors or large holders .
- Crypto-to-Crypto Exchanges: Some exchanges allow you to swap XRP for other cryptocurrencies, which can then be withdrawn or sold for fiat currency.
