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Ripple Releases XRP Ledger (XRPL) Upgrade to Boost Stability, DeFi: Details

Varinder Singh
52 minutes ago
Varinder Singh

Varinder Singh

Independent Sr. Journalist
Expertise : Bitcoin, Crypto, Global Macro, DeFi, Blockchain, Web3, US Stocks, AI, Regulations and Lawsuits, & More
Varinder is a seasoned leader in the fintech and crypto media with over 12 years of experience, including over 6 years dedicated to blockchain, crypto, and Web3 developments. He is known for covering high-impact and quality news stories for publishers such as CoinGape, The Coin Republic, and The Crypto Times, while perfecting and training multiple journalists during his tenure. Being a Master of Technology degree holder, analytics thinker, and tech enthusiast, he has shared his knowledge of disruptive technologies in over 6000 news articles and papers.
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Ripple Releases XRP Ledger (XRPL) Upgrade to Boost Stability, DeFi

Highlights

  • Ripple introduces major XRP Ledger v3.0.0 upgrade.
  • The upgrade boosts network stability and expand decentralized finance (DeFi) capabilities.
  • XRP price moves near $2.08 following a 1.50% jump.

In today’s big XRP news, Ripple has officially released a major upgrade to XRP Ledger (XRPL). The major upgrade introduces significant changes, optimizations, and critical fixes to boost network stability and expand decentralized finance (DeFi) capabilities.

It comes as part of Ripple’s latest roadmap, placing stablecoins and tokenized real-world assets (RWAs) at the center of its institutional DeFi strategy.

XRP Ledger v3.0.0 Upgrade to Boost Ripple’s Position in DeFi

Ripple introduces rippled v3.0.0, the core server software that powers the decentralized XRP Ledger (XRPL) network. It marks a major milestone for the XRPL network, with reliability improvements, fixes, and innovations such as a native lending protocol, as Ripple boosts XRP and RLUSD adoption.

Node operators are urged to upgrade to the new version immediately to ensure service continuity. It also mentioned installation packages and instructions for updating to the latest version.

The upgrade introduces major amendments, optimizations, and bug fixes, said Krippenreiter. He highlighted “fixIncludeKeyletFields” amendment, which adds missing keylet fields to ledger entries related to escrow and payments.

Key Changes in XRP Ledger

Similar to its successful Smart Escrow Devnet update, changes were made related to fees and reserves, function signatures, multi-purpose token (MPToken) issuance, as well as bug fixes and code cleanup.

The amendment fixes accounting errors in MPT escrows, adds missing keylet fields to several ledger entries, and improves transaction transparency. Moreover, it resolves rounding issues in automated market maker (AMM) transactions, ensuring precise LP token balances.

The ‘simulate API method’ now supports new metadata fields, which expands the capabilities of analytical and DeFi tools. The upgrade also adds STInt32, a new data type that supports negative 32-bit integers for more protocol flexibility in the future.

The upgrade also improves performance, security, and developer experience following multiple bug fixes. This includes improved code in preparation for upcoming features such as a lending protocol.

XRP Price Holds Near $2.08

XRP surged almost 1.50% in the past 24 hours, with Ripple coin price currently trading at $2.08. The 24-hour low and high were $2.05 and $2.9, respectively. Furthermore, trading volume has increased by nearly 50% in the last 24 hours, indicating interest among traders.

In the daily timeframe, the price is trading below the 50-MA and the 200-MA at the time of writing. Whereas, the relative strength index (RSI) is near 45 ahead of today’s FOMC rate decision.

CoinGlass data shows significant buying activity in the derivatives market. At the time of writing, the total XRP futures open interest jumped 1.51% within an hour and 1.10% in four hours. Notably, 24-hour XRP futures open interest climbed almost 4% to $3.76 billion.

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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

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About Author
About Author
Varinder is a seasoned leader in the fintech and crypto media with over 12 years of experience, including over 6 years dedicated to blockchain, crypto, and Web3 developments. He is known for covering high-impact and quality news stories for publishers such as CoinGape, The Coin Republic, and The Crypto Times, while perfecting and training multiple journalists during his tenure. Being a Master of Technology degree holder, analytics thinker, and tech enthusiast, he has shared his knowledge of disruptive technologies in over 6000 news articles and papers.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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