The XRP Ledger is nearing a network upgrade focused on resolving existing code issues and improving overall reliability. The fixCleanup3_4_0 amendment has gained support from 29 of 35 trusted validators, with activation projected for October 23.
Separately, proposals for introducing lending services and expanding digital asset management on XRPL are still working through the approval process. These initiatives have attracted fewer validator votes, leaving them at different stages of readiness. If approved, they could broaden the network’s DeFi capabilities by enabling users to lend assets and access financial services directly on-chain.
The fixCleanup3_4_0 amendment is expected to activate at 09:34 UTC on October 23. Its tracker showed 29 supporting votes on October 9, and the tally remained the same on October 19.
The amendment includes multiple technical refinements for XRPL’s evolving DeFi infrastructure. These cover precision and rounding for vault deposits, withdrawals, and clawbacks, along with changes to freezing, authorization, credential, and destination handling for Single Asset Vaults and the Lending Protocol.
XRPL’s amendment rules require more than 80% validator support to be maintained throughout a 14-day voting period. Votes are recorded at flag ledgers, which occur roughly every 16.5 minutes. Activation therefore begins at the first qualifying flag ledger after the voting window closes, not necessarily at its exact expiration time. The ledger’s recorded status is the definitive reference if it differs from the amendment tracker.
The projected October 23 launch depends on the amendment retaining sufficient support. If activated, it will implement the cleanup changes but will not automatically bring the wider lending market online. Documentation for the xrpld 3.4.0 release describes LendingProtocolV1_1 as an extension that adds closed-ended vaults and cash-basis accounting.
The proposed Lending Protocol would support fixed-term, uncollateralized loans funded by depositors through a Single Vault operated by brokers. Borrowers would repay under predetermined terms, while credit checks would be performed off-chain. The current design does not provide automated on-chain collateral management or liquidation.
Some brokers could contribute first-loss capital, absorbing default-related losses before depositors are affected. However, this arrangement would not eliminate credit risk. In one documented example, a default involving 1,090 tokens results in 10.9 tokens being returned, leaving the vault with a loss of 1,079.1 tokens.
When a borrower misses a payment, a grace period applies before the broker can declare the loan in default. This illustrates why code improvements and lending approval must be treated separately: the cleanup amendment improves the implementation, while validator governance determines whether Single Asset Vaults and lending-related amendments can become active.
RLUSD payment and settlement initiatives are progressing independently of the lending proposals. Ripple’s API partnership with Cross River is an example of activity on this separate front.
For fixCleanup3_4_0, the next milestone is the first qualifying flag ledger after the 14-day voting period, provided support remains above 80%. The Lending Protocol and LendingProtocolV1_1 amendments must each secure 29 votes and sustain the required support before their activation periods can begin. Single Asset Vault needs at least eight additional votes compared with its October 19 tally.
Validator support remains the key factor determining whether XRPL can expand its lending functionality. The cleanup amendment is projected to activate at 09:34 UTC on October 23, with vote status continuing to be checked at flag ledgers approximately every 16.5 minutes.
Overall, these developments signal continued technical progress for the XRP Ledger. While lending features remain subject to separate governance decisions, further upgrades could improve network reliability and extend XRPL’s utility beyond payments and settlement.
