XRP Ledger Upgrade Clears Final Vote as Central Exchanges Shut Down

The XRP Ledger is set for an upgrade after its batched fix update cleared its final vote requirement. The update, which bundles up to eight transactions into a single atomic action, will go live within days.

XRP has been trading in a bear market pullback, with prices dipping as low as $1.01 in recent weeks. Analysts point to the token's 2022 bear market as a reference point, where it bottomed near $0.28 and retested that same support level several times.

Centralized exchanges are continuing to shut down, including Bitmart and BitMEX. This has led some analysts to point out the importance of the XRP Ledger's built-in decentralized exchange (DEX), which operates independently of any single platform.