Claims that Binance suspended XRP withdrawals sparked concern across the crypto community on June 11, but the leading exchange has moved quickly to debunk the rumors, stating that all services are functioning normally.
The confusion originated on social media platform X (formerly Twitter), where several users circulated screenshots allegedly showing a Binance system message:
“Your withdrawal is being processed as Ripple’s network is suspended at this moment.”
The post gained traction rapidly, echoing memories of a similar event in late 2024, when Binance temporarily paused XRP withdrawals due to extreme market volatility. That prior event led to widespread frustration among users and questions about the dependability of centralized exchanges during high-traffic periods.
Binance Responds: “No Disruptions Detected”
In response to the latest rumors, Binance issued a clear denial. Speaking to crypto.news, a Binance spokesperson confirmed that XRP withdrawals are fully operational and that the exchange has not suspended any services related to Ripple’s network.
“XRP withdrawals are operating normally without any disruptions,” said the Binance representative.
The platform’s prompt clarification aims to reassure users and stem potential panic in the wake of the misinformation. No network-wide issues have been reported by Ripple or other major exchanges.
Centralization Debate Resurfaces
Despite the reassurance, the incident has reignited the long-running debate around the risks of centralized custody in crypto. As users shared concerns under the familiar banner of “not your keys, not your crypto,” many called for greater awareness around the importance of self-custody during uncertain times.
Misinformation like this even when false can create momentary instability and contribute to distrust in centralized platforms, especially among retail investors who are often caught off guard.
Final Thoughts
With Binance confirming XRP services are active and uninterrupted, the situation serves as a reminder of how easily social media speculation can impact market sentiment. For now, XRP holders can rest assured that withdrawals on Binance remain unaffected but the broader conversation around crypto custody and transparency continues to grow louder.
