XRP Price Soars 20% as Ripple-Backed Lending Upgrade Advances
Ripple's XRP price surged nearly 20% in a single day as news broke about an upcoming upgrade to the XRPL Lending Protocol. The upgrade is being led by Clearpool, Ripple, and Cicada Partners, which aim to create a new credit infrastructure for institutions.
The proposed lending platform will allow independent credit managers to establish their own risk conditions for each market, while also providing access and asset management controls through features like Permissioned Domains and Credentials on the XRPL.
Ripple's limited partner role in the fund will focus on fintech companies, payment service providers, and crypto businesses that leverage stablecoins to fund working capital. However, some have raised concerns about the use of RLUSD as a credit asset, potentially reducing XRP's utility.