XRP Ledger lending vote sits at 37% as validators weigh native credit

Support for XRP Ledger's native lending amendments sits at 34-37%, far below the 80% validator threshold needed for activation.

According to XRP Ledger amendment records, 13 of 35 trusted validators back SingleAssetVault (XLS-65) while 12 support LendingProtocol (XLS-66). Ripple's validator voted in favor of both amendments in August, but the company cannot approve the changes independently.

The two amendments work in tandem. XLS-65 would introduce Single Asset Vaults, on-ledger structures that pool one asset from multiple depositors and issue tokenized shares representing proportional ownership. XLS-66 would use that pooled liquidity to fund fixed-term, uncollateralized loans to institutional borrowers, with credit assessment and underwriting conducted off-chain rather than through automatic overcollateralization and liquidation.

The outcome determines whether XRP Ledger becomes a venue for private-credit-style markets or remains primarily a payments rail. If activated, the amendments could create new yield opportunities for XRP holders through vault participation while expanding the network's utility for institutional finance. An amendment must hold above 80% for two consecutive weeks before activation.

Clearpool, Cicada and Ripple build an RLUSD credit fund

Product development is already underway while validators consider the amendments. Clearpool is testing an institutional credit product on the XRP Ledger development network that would provide RLUSD-denominated working-capital loans to fintech and payment companies. Cicada Partners would source borrowers, establish lending terms and monitor their financial condition, while Clearpool provides the infrastructure for creating and operating the credit pools.

Ripple will participate as a limited partner alongside other investors, providing capital on comparable terms without serving as a financial backstop. The companies have not disclosed the fund's target size or Ripple's commitment. The planned fund cannot use the proposed native lending functions on mainnet before both amendments activate.

What the vote means for XRP holders

The amendments could create new uses for XRP Ledger assets, but they would not automatically provide yield to every XRP holder. Access would depend on which vaults launch, the assets they accept, their eligibility rules and their underlying borrowers. Some institutional pools may use permissioned domains and verified credentials, meaning retail participation is not guaranteed.

RLUSD is expected to serve as the main credit asset in the Clearpool and Cicada fund. XRP would retain its network role by covering transaction fees and account reserve requirements. XRP Ledger transaction fees are destroyed rather than paid to validators, so greater lending activity could increase XRP fee consumption, though fees are normally very small. XRP traded around $1.06 at the time of writing.

The lending code has undergone formal verification and independent security reviews. Halborn's re-audit found no critical or high-risk vulnerabilities, identifying one medium-risk issue, two low-risk issues and two informational findings. Those reviews address technical behavior, not whether borrowers will repay their loans.

The vote comes as institutional interest in XRP accelerates through other channels. U.S. spot XRP ETFs attracted $110.49 million during the week ending Aug. 28, their strongest weekly inflow of 2026, lifting cumulative net inflows to roughly $1.66 billion. That creates an unusual split: regulated investment products are already drawing substantial institutional capital while XRPL's proposed lending layer still needs significantly broader validator support. The next formal milestone is validator approval — if either amendment crosses 80%, it must hold that level for 14 days before activation.

This article is for informational purposes only and does not constitute investment advice.