Iggy Azalea, 28, and Azealia Banks, 27, are feuding again.

Following the Australian rapper's announcement that she had parted ways with Island Records, Banks took to Twitter to gloat about what she deemed Iggy's failure.

The Fancy hitmaker fired back at the insults on Twitter, telling Banks to 'shut the f*** up' in a series of now-deleted tweets.

Rap battle: Iggy Azalea and Azealia Banks exchanged barbed comments on social media Saturday after Iggy announced she split from Island Records

'Can we all give Azealia Banks a round of applause for completely ruining whatever plan Iggy Azalea had to succeed while having stole my name?' Banks took credit for Iggy losing her record deal in a tweet

The fight began after Iggy, whose real name is Amethyst Amelia Kelly, announced on Twitter that she no longer has a record deal.

'I'm officially unsigned!' the Australian pop star told her fans.

Shortly after she posted the message, American rapper Azealia Banks, a long time nemesis of Iggy's, posted a barbed response.

She tweeted: 'Can we all give Azealia Banks a round of applause for completely ruining whatever plan Iggy Azalea had to succeed while having stole my name?'

Shots fired: Azealia Banks called out her nemesis for stealing her name on Twitter

Gloating: Banks' tweetstorm continued as she responded to fans who chimed in with comments about Iggy's most recent tour

'Her life is only going to get worse and worse:' Azealia said she sees a bleak future for Iggy

The New York native added: 'Her white a** really thought she would be able to take what was for me and run with it'

Banks' tweetstorm continued as she responded to fans who chimed in with comments about Iggy's most recent tour.

'Lol they probably saw her post that gun on Twitter and decided she's completely lost it,' she responded to a fan. 'She's going to be knocked up by some aint s*** black dude in Atlanta in 3,2,1. Love and hiphop is next'

Banks ended her rant with a prediction about Iggy's future: 'Her life is only going to get worse and worse.'

Fighting words: The rappers hurled insults at each other on Saturday, reigniting their feud

In response to these comments, the Black Widow singer went on a tirade on social media but later deleted the messages.

'I'm so sick of her a** sitting at HOME for years thinking of me every 5 seconds and running her fingers across the keyboard,' the now-deleted tweet read. 'Shut the f*** up crusty! Where was all this energy on Wild 'n Out?!'

Banks appeared on MTV's Wild 'n Out over the summer and complained about her treatment on the Nick Cannon show.

Iggy continued in tweets to insult Banks' soap business, Cheapy XO, calling her Ms. Etsy and claiming 'you make soap in your bathtub.'

Upset! The Black Widow singer went on a tirade on social media but later deleted the messages

Pointed words: Iggy never referred to Banks by name but she made it obvious who she was angry with

Attacks: Iggy went after the New Yorkers beauty and soap company, CheapyXO

The Australian even went so far as to insult Banks' looks writing, 'Ms. Beauty butt. Even your teeth tired of all that s*** you talk that's why they look like they still tryna escape your mouth...'

The rappers have been fighting since 2012 when Azealia Banks accused Iggy of not caring about 'black issues' and, in 2014, the rappers battled it out in their first big Twitter fight.

The impetus for this recent social media squabble was Iggy's announcement that she split from her record label.

Harsh words: At one point the Fancy rapper even ridiculed Banks' face

Long history: The rappers have been fighting off and on since 2012

Hinting at disagreements with Island Records behind-the-scenes, Iggy said Saturday: 'Wild you spend so long trying to get IN a record deal... never thought I'd be so elated to be OUT of one.

'Now I'm free to release whatever kinda music I like, whenever I'd like woooo!'

Iggy, who released her EP Survive the Summer in August, later told fans that she was nervous people would not support her decision.

New chapter: Hinting at disagreements with her former record label behind-the-scenes, Iggy said: 'Wild you spend so long trying to get IN a record deal... never thought I'd be so elated to be OUT of one'

Concerned: Iggy, who released her EP Survive the Summer in August, later told fans that she was nervous people would not support her decision

Work in progress: However fans will have to wait patiently for the LA-based star to release new music, as she admitted to being 'nowhere near ready'

'I guess I was worried people wouldn't get my choice and would make it negative somehow. Everyone's been really supportive of this move - thanks for understanding and making me even more excited for all the new stuff. Sky's the limit,' she wrote.

However fans will have to wait patiently for the US-based star to release new music, as she admitted to being 'nowhere near ready'.

'I don't wanna jump the gun and have some messy era aesthetically. I'm aiming to be ready to share new music early next year!' Iggy explained.

This is not the first time Iggy has parted ways with a record label.

In February this year, the Kream singer left Def Jam Recordings, after having Tweeted her grievances with CEO Steve Bartels.