Crypto
Ripple's Upgrade Progress Can't Offset Selling Pressure for XRP
XRP traded at $1.399 on Wednesday, down 3.27% from the previous day's close as selling pressure outweighed progress in the XRP Ledger upgrade and increased inflows into US spot XRP ETFs.
Ripple voted to move forward with key upgrades to the XRP Ledger, including ConfidentialTransfer, DynamicMPT, and BatchV1_1 amendments. These proposals gained support from a significant number of validators, with 23 out of 35 UNL validators backing BatchV1_1, also known as XLS-56.
The fixCleanup amendment crossed the 80% consensus threshold and will activate on September 11 at 11:15 a.m. ET. Ripple had already backed other amendments, including fixCleanup and Permission Delegation, while its vote on the Sponsor amendment remained pending.