Poloniex Exchange Will Upgrade XRP Wallets Monday, Limiting Activities

© Reuters. Poloniex Exchange Will Upgrade XRP Wallets Monday, Limiting Activities

U.S.-based crypto exchange Poloniex took to Twitter today to announce the upgrade of its XRP wallets, which will result in withdrawals and deposits being suspended for several hours.

On Sept. 5, the crypto exchange took to Twitter to explain that it will upgrade its XRP wallets to further enhance the user experience. Once the upgrade is implemented the base reserve deposit requirement of 20 XRP to create a new address will no longer be needed. In addition, deposit confirmations have been reduced from 12 to 2, which will reduce deposit times from 20 minutes to about 15 seconds.

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