The lending protocol being developed on the XRP Ledger for banks and payment companies has reached a new stage in validator voting. According to a report published by CoinDesk on November 12, 2026, the number of validators supporting the LendingProtocol amendment has increased from 19 in mid-October to 22. Within the default list of 35 validators, at least 29 affirmative votes must be maintained for two consecutive weeks before the protocol can be activated. Although the latest voting data indicates progress toward launching the fixed-term lending infrastructure, the system has not yet been activated.
How Many Votes Does the XRP Ledger Lending Protocol Need?
Protocol changes on the XRP Ledger are implemented through amendment votes involving network validators. For an amendment to be activated, it must maintain support from more than 80% of the validators on the default validator list for two consecutive weeks. As of November 11, both the LendingProtocol and LendingProtocolV1_1 amendments had received 22 affirmative votes each.
Meanwhile, the SingleAssetVault amendment, which enables the creation of lending pools, had received support from 23 validators. Accordingly, the lending protocol requires seven additional affirmative votes to reach the necessary threshold, while the SingleAssetVault amendment needs six more.
Increasing validator support does not mean the system will become available immediately. Both fundamental amendments must maintain the required majority continuously for two weeks. According to data reported by CoinDesk, the increases in support had occurred by November 10 at the latest. However, public records did not reveal which validators had changed their positions.
How Will Ripple's Lending System Work?
The proposed protocol aims to enable the creation of fixed-term lending agreements on the XRP Ledger. Under the system, users will be able to deposit XRP or other supported digital assets into lending pools. Institutions acting as loan brokers will then be able to make these funds available to borrowers.
One of the model's most significant features is that borrowers will not necessarily be required to provide collateral directly on-chain. Instead, credit assessments and risk management will be conducted off-chain.
First-loss capital provided by loan brokers is designed to absorb a portion of potential losses. However, the mechanism does not eliminate all credit risks for depositors.
Ripple's approach particularly targets financial institutions that require temporary liquidity for cross-border payments. The protocol's technical framework is based on the XLS-66 lending protocol design outlined in the XRP Ledger's official standards documentation.
Developers Prepare New Protocol Amendments
XRP Ledger developers continue working on technical improvements to the lending infrastructure while the voting process remains underway. A software change proposal opened on November 4 aims to introduce a new amendment called LendingProtocolV1_2.
The proposal focuses on improving the handling of potential conflicts between transactions associated with the same loan broker.
Additionally, a maintenance amendment activated on November 4 addressed certain software issues related to the lending protocol. The continuation of these technical efforts indicates that the system is still being refined in terms of security and functionality.
Kriptofoni Analysis
The XRP Ledger lending protocol reaching 22 supporting validators represents a noteworthy development in the network's efforts to expand its institutional financial use cases.
Nevertheless, the amendment has not yet secured the number of votes required for activation. Furthermore, the reliability of off-chain risk assessments will be a decisive factor in the unsecured lending model.
The protocol's activation does not automatically imply an increase in XRP's price. Its actual economic impact will only become measurable through adoption and liquidity demand after the system goes live.
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Disclaimer: This content is for informational purposes only and is not investment advice. Cryptocurrencies are high-risk; make investment decisions based on your own research.
Content Editor and Writer
Dr. Mesut İnan is a researcher, academic and crypto journalist who has been producing content about cryptocurrencies since 2018. He brings a different perspective to the industry by combining his expertise in sociology with the cryptocurrency ecosystem. Before joining Kriptofoni as co-founder, content editor and writer, İnan worked for several cryptocurrency media platforms: he was an editor and writer at Kriptokoin from 2018 to 2023 and at COINTURK from 2023 to 2024. İnan made a valuable contribution to the ecosystem with his book on Bitcoin, "Bitcoin Sen Bizim Her Şeyimizsin" (Bitcoin, You Are Our Everything). Alongside his academic background, his regular analyses, news and commentary have made him one of the well-known names in cryptocurrency journalism in Turkey. İnan continues his work as a writer and educator and remains a prominent expert voice in the cryptocurrency field.
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