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Friday, September 24, 2021

Poloniex drops support for XRP wallet citing maintenance

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Prominent cryptocurrency exchange, Poloniex seemed to be making news for disabling several wallets for the second time this week.

It has undoubtedly been a very volatile week for the crypto market. XRP was just recovering from its recent downfall following SEC’s lawsuit against Ripple. Despite this, the altcoin managed to score gains during the latest crypto rally. However, XRP had once again dropped down below $1. Amidst this volatile period, California-based cryptocurrency exchange, Poloniex went on to disable an array of wallets including XRP citing maintenance.

Poloniex disables support for XRP, ETH, TRX, and several others

The crypto exchange, took to Twitter to announce that it had dropped support for XRP, ETH, ERC-20, TRX as well as TRC20. The tweet read,

Poloniex shared an array of tweets. The next tweet read,

“TRX and TRC20 wallets have been disabled for maintenance. We will update this thread once the wallets have been re-enabled.”

This wasn’t the first time that Poloniex disabled wallets suggesting maintenance issues. Back on 24 May, the exchange revealed that it would temporarily disable the XRP wallet. Along with XRP, the crypto platform withdrew support for Bitcoin Cash [BCH] as well as Polkadot [DOT]. While Poloniex took a day to wind up its maintenance issue, the duration of the current one is uncertain.

Furthermore, during the time of writing, XRP was trading for $0.86 with a 3.47% drop in the last 24-hours.

Ripple vs SEC war persists

SEC has time and again revealed that it had no intention of settling with Ripple. While the SEC does not seem to steer away from its narrative of XRP being a security, several XRP holders went on to protest against the financial watchdog.

These XRP holders stood outside the SEC headquarters seeking an investigation against Jay Clayton’s views on the altcoin. Twitter user, Andrew H tweeted about the same. The tweet read,

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