XRP's Lending Upgrade Is Winning Votes — Just Not Enough of Them Yet
Published on 11/12/2026 at 14:22 | Editorial boerse-global.de
The XRP Ledger's proposed credit protocol is gaining ground among validators, but it still sits below the activation threshold, leaving the network's lending ambitions in a holding pattern.
According to CoinDesk, 22 of 35 validators currently back the lending feature, while the accompanying SingleAssetVault amendment has drawn 23 votes. Support has been building since October 19. Both LendingProtocol and its companion LendingProtocolV1_1 must clear the bar, with SingleAssetVault designed to handle the assets earmarked for lending.
The mechanics are strict: every required amendment needs at least 29 validator votes held for two consecutive weeks. That countdown has yet to begin. Should backing slip below the threshold during the waiting period, the clock resets from scratch. A firm launch date will only emerge once the necessary majority is reached and then sustained — growing support bodes well, provided it carries through to activation.
Fixed-Term Credit, Off-Chain Underwriting
Under the plan, borrowers would take out fixed-term loans drawn from pooled assets without posting collateral directly on the blockchain. Intermediaries would instead handle credit checks off-chain and manage the resulting risk. First-loss capital is also part of the design, intended to absorb initial losses — though it can only cushion defaults to the extent it covers them. For lenders, the quality of credit assessment remains the decisive factor.
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The model thus pairs on-ledger settlement with off-chain due diligence. Beyond the technical green light, investors will be watching how reliably intermediaries select borrowers and cap risk.
Demand Boost Depends on What Fills the Pools
The planned lending pools could hold XRP as well as other supported tokens, stablecoins or tokenized financial assets. Any lift to XRP demand would therefore hinge on the token itself being deployed in those pools. That condition is central to the project's valuation: the protocol widens the ledger's utility, but the benefit to XRP depends on the asset chosen. Once approved, actual lending volumes and pool composition would be the metrics that matter. With XRP trading at USD 1.04, the initiative offers a development angle — if technical approval is followed by economic use.
Fund Outflows and Stolen Tokens Weigh on the Market
That forward-looking story is unfolding against a tougher backdrop. US spot XRP ETFs recorded net outflows of USD 10.4 million on Tuesday, according to media reports, after a prior week in which the products failed to post a single day of positive net inflows. On Monday, USD 9.4 million of outflows were attributed to Bitwise's XRP fund. Over seven days, XRP has moved -13%, framing the weakness beyond the latest session.
Yesterday's market coverage also pointed to muted risk appetite and expectations of higher US interest rates, while reports on the broader crypto market cited ETF outflows and liquidations as drags. The XRP-specific capital movements are landing in an already difficult environment.
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Separately, the aftermath of the October 29 Binance security incident remains in focus. Elliptic put the attackers' remaining holdings at roughly 60 million XRP as of Tuesday, with about 35 million XRP swapped overnight via THORChain, predominantly into Bitcoin. That reshuffling materially changes the makeup of the stolen stash — but it only partly explains the overall price decline, given the simultaneous fund outflows and wider market weakness.
A Separate Calendar Entry for Network Maintenance
Amid the market stress, the XRP Ledger has its own technical date to keep. The XRPL community blog announced Monday that the testnet and devnet will be reset on November 25, 2026, aimed at improving server stability with full transaction history. For investors, these are parallel developments: network upkeep addresses technical resilience, while near-term sentiment is shaped by capital withdrawals and the movement of stolen tokens. A friendlier demand picture through the funds would require outflows to ease or inflows to return.
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