XRP Ledger Upgrade Set for November 4 After Validator Support Regained

The XRP Ledger is preparing for a potential upgrade with the fixCleanup3_4_0 amendment, which has regained majority support from validators. This comes after an earlier countdown failed, prompting a reset of the voting process.

As of October 21, the amendment received backing from 32 out of 35 trusted validators, representing 91.43% support. The earliest possible activation date for the amendment is now set for November 4, contingent on sustained support from the validators.

The amendment aims to implement a series of technical fixes that enhance various features of the XRP Ledger, including vaults, lending, automated market makers, and trust lines. Notable changes include more precise vault rounding and adjustments to loan default conditions.

It is important to note that the amendment requires continuous support from over 80% of trusted validators for a two-week period. If this support falters, the waiting period resets, meaning the November 4 date is not guaranteed. The decision-making process is governed by consensus among validators, and the visible support is crucial for maintaining the required network backing.

As the community awaits the outcome, the next critical step will be to ensure that the majority support remains intact throughout the designated window.

New Developments in XRP Ecosystem

Evernorth Holdings has secured a committed equity facility potentially worth approximately $80 million to support additional XRP acquisitions and development across the XRP ecosystem.

The company entered into a common stock purchase agreement with CF Principal Investments LLC, allowing it to sell up to 5,218,935 Class A common shares.

Based on XRPN’s closing share price on October 22, the facility could generate approximately $80 million in gross proceeds if fully utilized.

Evernorth aims to expand its XRP holdings, fund product development, and support general corporate operations with this capital.

Following its business combination with Armada Acquisition Corp. II on October 9, Evernorth’s shares began trading on Nasdaq under the ticker XRPN on October 12.

The company plans to establish a treasury holding approximately 473 million XRP, positioning it among the largest publicly traded companies focused on cryptocurrency.

Evernorth has also announced partnerships with Ripple, Kraken, Coinbase, and BitGo to support the deployment of its XRP holdings.

Recently, Hugo Jeandesboz was appointed as chief investment officer to oversee its digital asset treasury operations.