According to a report from Bloomberg, the XRP army is rallying after Binance temporarily froze XRPL network access. The freeze was reportedly implemented in response to a security incident that was discovered on the network. However, the freeze was quickly lifted after the incident was resolved.
The exchange cited “network maintenance” as the reason for the suspension, which is expected to last for about an hour.
The temporary freeze of the XRPL network was a setback for the XRP community, but it also highlighted the network’s resilience. The fact that the freeze was quickly lifted suggests that the XRPL is a secure and reliable platform.
The XRP army will likely continue to rally in support of XRP as the cryptocurrency develops. XRP is a promising cryptocurrency with several potential use cases. The XRP army is confident that XRP will eventually achieve widespread adoption.
XRP community reacts
The news sparked a wave of reactions from the XRP community, also known as the XRP Army, who expressed their frustration and disappointment with Binance’s decision. Some users speculated that the suspension was related to the ongoing legal battle between Ripple, the company behind XRPL, and the US Securities and Exchange Commission (SEC), which accuses Ripple of selling unregistered securities. Others suggested that Binance was trying to manipulate the market or prevent users from accessing their funds.
However, some XRP supporters also saw the suspension as an opportunity to rally behind their favorite cryptocurrency and show their loyalty and confidence in its future. They used hashtags such as #XRPArmy, #RelistXRP and #XRPLStrong to voice their support and encourage others to buy more XRP or hold on to their existing holdings. They also praised other exchanges that offered XRP services without interruption, such as Uphold, Bitstamp and Kraken.
The suspension comes at a critical time for XRP,
The suspension comes at a critical time for XRP, which is recovering from a steep drop in price and market capitalization following the SEC lawsuit in December 2020. The token has gained more than 300% since the beginning of 2021, reaching a three-year high of $1.96 in April. It currently ranks as the sixth-largest cryptocurrency by market cap, with a value of $0.93 when writing.
Binance has not provided any further details on the nature or duration of the network maintenance, but assured users that their funds are safe and that they will resume normal operations as soon as possible. The exchange also apologized for any inconvenience caused by the suspension and thanked users for their patience and understanding.
The XRP army is a group of XRP enthusiasts who are dedicated to promoting the adoption of cryptocurrency. They are known for their passionate support of XRP and their willingness to take action to defend the cryptocurrency.