The XRP Ledger’s proposed lending system is edging toward activation after the latest validator vote pushed the LendingProtocol amendment to 22 affirmative votes out of the 29 needed for the 14‑day approval window. The vote, recorded on the XRPL amendment tracker, brings the proposal within striking distance of the 80% support threshold required for the amendment to enter its activation countdown.

Validator support and voting mechanics

According to CoinGape, 35 trusted validators participate in amendment voting on the XRP Ledger. For a proposal to move forward, at least 29 validators—roughly 80% of the total—must vote in favor and maintain that level for 14 consecutive days. The LendingProtocol amendment currently sits at 22 votes, while related proposals SingleAssetVault and LendingProtocolV1_1 each hold 23 and 22 votes respectively. All three amendments remain in the voting phase, with seven validators still pending on LendingProtocol.

What the lending protocol would enable

The XLS‑66 specification outlines a fixed‑term loan model that would use shared asset vaults on the XRPL. Borrowers would be evaluated off‑chain, while the ledger would record loan creation, repayments and defaults. Interest income could be recognized immediately upon receipt, and a first‑loss capital component would be available to absorb potential defaults. Clearpool has previously indicated plans to leverage this infrastructure for institutional credit services.

Network activity amid the vote

On‑chain data from Bithomp shows the XRP Ledger processed 3.9 million transactions on November 11, including 659,300 payments, 956,300 decentralized‑exchange trades, and 153,800 swaps, generating roughly $1.1 billion in trading volume. The high activity level provides a backdrop for the lending amendment, suggesting continued demand for on‑chain financial primitives.

What to watch next

The next milestone is the accumulation of a sustained 80% validator majority for 14 days. If any validator withdraws support before the period ends, the countdown will reset, extending the timeline. Observers will also monitor any further codebase changes—such as the November 4 proposal to store loan data directly in ledger entries—that could affect the implementation of the lending system. Finally, market participants will watch XRP’s price movements, which were at $1.04 at the time of reporting, for any reaction to the pending activation.