The coin price is trembling at the $1 mark, while the ledger is quietly making a big move—and this whale is stunned 🐋
$XRP is currently around $1.04, down about 20% in seven days and roughly 22% over the past month. Its RSI is only around 23, and the only support left below is the $1 psychological level; beneath that lies the August low of $0.9852. Spot ETFs are seeing outflows too, with another roughly $18 million pulled out over the past two days.
But the upgrade vote on the XRP Ledger itself is nearing the finish line: the native lending protocol amendment, LendingProtocol, has secured 22 votes, just 7 short of the 29-vote supermajority. Its companion, SingleAssetVault, a single-asset vault, has 23 votes, 6 short. Under the rules, even after an amendment gets 29 votes, it must maintain that support for 14 consecutive days to activate. Neither proposal has started the countdown yet.
If this goes live, XRPL will be able to offer fixed-term loans natively: lenders can deposit tokens into shared vaults to earn interest, and institutions won’t have to go off-chain to find counterparties. The ledger also processed 3.9 million transactions on November 11, so on-chain activity isn’t exactly quiet.
This whale’s take: price and fundamentals are moving on two separate tracks right now. Whether $1 holds depends on market sentiment; whether the lending protocol passes depends on validator votes. It’s only a few votes short, but the narrative won’t start becoming reality until it enters the 14-day countdown. If it gets stuck at the threshold and can’t gather enough votes, it’ll be another case of hearing footsteps on the stairs without anyone showing up. Keep an eye on $1 in the short term and the vote count in the long term. Set the day job aside for now and wait for the votes to give us an answer.
$XRP is currently around $1.04, down about 20% in seven days and roughly 22% over the past month. Its RSI is only around 23, and the only support left below is the $1 psychological level; beneath that lies the August low of $0.9852. Spot ETFs are seeing outflows too, with another roughly $18 million pulled out over the past two days.
But the upgrade vote on the XRP Ledger itself is nearing the finish line: the native lending protocol amendment, LendingProtocol, has secured 22 votes, just 7 short of the 29-vote supermajority. Its companion, SingleAssetVault, a single-asset vault, has 23 votes, 6 short. Under the rules, even after an amendment gets 29 votes, it must maintain that support for 14 consecutive days to activate. Neither proposal has started the countdown yet.
If this goes live, XRPL will be able to offer fixed-term loans natively: lenders can deposit tokens into shared vaults to earn interest, and institutions won’t have to go off-chain to find counterparties. The ledger also processed 3.9 million transactions on November 11, so on-chain activity isn’t exactly quiet.
This whale’s take: price and fundamentals are moving on two separate tracks right now. Whether $1 holds depends on market sentiment; whether the lending protocol passes depends on validator votes. It’s only a few votes short, but the narrative won’t start becoming reality until it enters the 14-day countdown. If it gets stuck at the threshold and can’t gather enough votes, it’ll be another case of hearing footsteps on the stairs without anyone showing up. Keep an eye on $1 in the short term and the vote count in the long term. Set the day job aside for now and wait for the votes to give us an answer.
