Ripple's Vote Boosts XRP as Amendment Clears Key Hurdle

XRP rallied 17% over 24 hours to an intraday high of $1.43, driven by Ripple's vote in favor of the PermissionDelegationV1_1 amendment.

The amendment would allow limited account authority on the XRP Ledger and is part of version 3.3.0 upgrade package released in August. The feature resembles role-based access systems used by financial companies, where employees and service providers receive access only to the operations required for their work.

Ripple's head of product Jazzi Cooper linked the feature to controls needed by regulated financial institutions that issue and manage assets on public blockchains. 'Tokens are the pre-requisite for on-chain utility; you can't move value without it existing on-chain first,' Cooper said.