Leading Philippines based crypto exchange company Coins.ph has announced that it is temporarily halting XRP withdrawals due to technical issues.
“Hi Coinmunity! Please be informed that XRP withdrawal services are currently disabled. We are already working closely with our technical team to resolve the issue as soon as possible…” the company stated through a Twitter post.
Users appear to be concerned, as some are inquiring about their unreceived deposits and inability to work on platforms like Binance. One user warned that there’s no update on the app and it should be avoided at all cost.
Coins.ph cited “technical issues” as the reason for the halt in XRP withdrawals, which it says will remain in place until further notice. The exchange assured its customers that their XRP holdings are safe and that they can still buy, sell, and trade the cryptocurrency on its platform.
In preparation for the Shapella network upgrade on the Ethereum Mainnet, XRP has released a statement informing users of an upcoming one-hour maintenance period. Scheduled for April 13, 2023, between 5:00 AM and 6:00 AM (PHT), this maintenance period will impact the ability to send and receive ETH and ERC-20 tokens using Coins.ph wallets.
During the maintenance period, users will be unable to transfer any ETH and ERC-20 tokens using their Coins.ph wallets. Incoming transfers to Coins.ph wallets will not be credited until after the maintenance period is over. This maintenance period is essential to ensure the smooth and uninterrupted operation of the Coins.ph platform following the Shapella network upgrade.
XRP is currently the seventh-largest cryptocurrency by market capitalization, with a market cap of over $80 billion. It is popular among investors and traders due to its fast transaction speeds and low fees.
The XRP community in the Philippines has expressed disappointment at the news of the withdrawal halt. However, many are optimistic that the issue will be resolved soon, and that XRP will continue to be a popular investment option in the country.
