The XRP Ledger is having big news as it prepares a network upgrade aimed at cleaning up existing code and improving the network’s overall reliability. The upgrade received support from 29 of 35 trusted validators and was expected to go live on October 23.

Meanwhile, separate proposals to introduce lending services and new ways to manage digital assets received fewer votes, meaning these features are still at different stages of approval. If implemented, they could expand the XRP Ledger’s decentralized finance ecosystem by allowing users to lend assets and access new financial services directly on the network.

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The XRPL’s fixCleanup3_4_0 amendment is projected to activate at 09:34 UTC on October 23. The amendment tracker recorded 29 votes for fixCleanup3_4_0 on October 9, and the count remained at 29 on October 19.

The amendment itself packages fixes across newer DeFi infrastructure, including precision and rounding changes for vault deposits, withdrawals, and clawbacks, as well as refinements to freeze, authorization, credential, and destination handling for Single Asset Vaults and the Lending Protocol.

XRPL’s activation process requires support above 80% throughout a 14-day voting period. Votes are counted at flag ledgers, which occur roughly every 16.5 minutes, so activation starts at the first flag ledger after the period ends rather than at its precise expiration time; the ledger’s record has final authority over the tracker count.

The projected October 23 activation is conditional on that support continuing. It would put the cleanup package into effect, not switch on the broader lending market. The xrpld 3.4.0 release describes LendingProtocolV1_1 as an extension adding closed-ended vaults and cash-basis accounting.

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Uncollateralized Lending and Its Risks
The proposed Lending Protocol uses fixed-term, uncollateralized loans funded by depositors through a Single Vault managed by brokers. Borrowers repay on set terms, while credit checks take place off-chain; the current design has no automated on-chain collateral or liquidation management.
Some brokers may contribute first-loss capital to absorb defaults before depositor funds are affected, but that structure does not eliminate credit risk. In a documented example, a 1,090-token default returns 10.9 tokens and leaves the vault with a 1,079.1-token loss.
Missed payments trigger a grace period, after which the broker may default the loan. The distinction between code readiness and lending approval matters: cleanup improves the protocol’s implementation, while validator governance still controls whether Single Asset Vaults and the lending amendments become active.
RLUSD payments and settlement developments form a separate track from lending, as illustrated by Ripple’s Cross River API partnership.
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What’s Next? Is This The Biggest XRP News in A Long Time?
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For fixCleanup3_4_0, the next milestone is the first qualifying flag ledger after its 14-day period, provided support stays above 80%. Lending Protocol and LendingProtocolV1_1 must each reach 29 votes and sustain the required support before their own activation countdowns begin; Single Asset Vault needs at least eight more votes from its October 19 count.
That leaves validator governance as the gating factor for any lending expansion. The cleanup amendment’s projected activation time is 09:34 UTC on October 23, with vote checks continuing at flag ledgers roughly every 16.5 minutes.
Overall, the progress is positive news for XRP, showing continued development on the XRP Ledger and growing support for network improvements. While the lending features remain separate proposals, further upgrades could strengthen the network’s reliability and help expand its use beyond payments.
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