XRP Ledger Nears Oct. 23 Upgrade as Lending Votes Fall Short

$XRP Ledger’s Cleanup Upgrade Approaches Activation

The $XRP Ledger (XRPL) is preparing to activate fixCleanup3_4_0 at approximately 09:34 UTC on Oct. 23, provided validator support holds above the required 80% threshold. The amendment secured its supermajority on Oct. 9, starting a mandatory two-week countdown. By mid-October, approximately 26 to 29 validators out of 32 to 35 supported the change, according to the supplied XRPSCAN amendment tracking.

There’s a catch. If support slips to 80% or lower before activation, the countdown resets. The amendment must then maintain sufficient backing for another uninterrupted two weeks. Unlike protocol upgrades that introduce new trading products, this one concentrates on fixing existing software behavior. The package, introduced in rippled version 3.4.0, addresses lending infrastructure, automated market makers, token handling, escrow transactions and account permissions.

A Token-Burning Permission Had a Minting Problem

Perhaps the most interesting correction concerns a feature activated Oct. 8 called PermissionDelegationV1_1. That feature allows account owners to give another account limited authority to perform specific actions without surrendering their main account keys. One permission, called Paymentburn, is supposed to let an authorized account destroy certain tokens. Yet a software flaw could produce the opposite result under specific conditions, allowing tokens to be created instead.

Official XRPL documentation warns operators against granting that particular permission until the cleanup amendment activates. The update also corrects how vaults calculate withdrawals, tightens the rules for declaring loans overdue and prevents certain automated market maker transactions from destroying liquidity tokens without returning assets.

For ordinary $XRP holders, the changes should be largely invisible. Node operators, however, need compatible software to continue following network consensus after activation.

Native $XRP Ledger Lending Still Has No Launch Date

Funnily enough, the cleanup includes several lending-related fixes even though native lending itself hasn’t received approval. The proposed Lending Protocol would allow users to pool assets and fund fixed-term loans through the $XRP Ledger. Borrowers wouldn’t necessarily provide collateral, while loan brokers would arrange terms and assess creditworthiness outside the blockchain.

Three separate amendments must activate to deliver the complete lending system. As of Oct. 15-17, the two lending amendments reportedly had approximately 17 to 19 supporting validators, or roughly 53%. The required Singleassetvault amendment had around 19 to 21 supporters. All remained short of the necessary supermajority, leaving their activation dates undetermined.

The distinction is important for anyone watching the upgrade calendar. Oct. 23 could deliver software corrections that make lending infrastructure safer, while the lending system those corrections support remains unavailable. For now, XRPL’s validators appear closer to approving the repairs than the financial product itself.