XRP Ledger Activates New Amendment to Strengthen Network
Key Summary
The XRP Ledger activated the fixCleanup3_4_0 network amendment to resolve token issuance vulnerabilities, concurrent with a 479% surge in daily settlement volume and enterprise deployment by Ripple and C2FO.
Key Bullets
- The XRP Ledger activated the fixCleanup3_4_0 network amendment to eliminate unauthorized token creation vectors.
- Ripple and C2FO integrated native DEX mechanics for instant corporate receivables settlement.
- Daily settlement volume surged by 479% from 229M to over 1.33B tokens.
- On-chain metrics confirm whale addresses expanded holdings, creating 18 new millionaire wallets over a 72-hour window.
Validator Majority Approves Code Patch
The XRP Ledger activated the fixCleanup3_4_0 network amendment on November 4, closing a structural vulnerability tied to delegated token issuance permissions. Official protocol documentation published by network maintainers confirms the upgrade targets accounts possessing burn-only rights, preventing zero-balance payment operations from minting new tokens.
Delegated permission mechanics historically permitted stablecoin issuers to assign token destruction capabilities to separate addresses for redemption flows. The fix eliminates unauthorized creation vectors immediately. Decentralized trading pools and AMMs on the network encountered targeted code adjustments designed to restrict invalid auction bids, while liquidity withdrawal mechanics and token clawback functions received computational rectifications.
Ledger Settlement Bypasses Legacy Banks
Ripple and C2FO deployed native decentralized exchange mechanics on the XRP Ledger to route capital across borders without traditional correspondent banking delays, according to commercial deployment data released by project coordinators. Corporate cash managers can now settle receivables instantly rather than waiting for multi-hop wire transfers to clear through intermediary correspondent accounts.
C2FO processes billions in working capital programs for global corporations by matching early payment discounts with available supplier liquidity. Integrating direct blockchain settlement paths allows corporate payers to disburse funds immediately upon invoice approval. Settlement times dropped immediately as capital moved without friction.
Onchain Volume Records Massive Growth
The XRP Ledger recorded a 479% spike in settlement volume as transfer amounts climbed from 229M tokens to over 1.33B tokens, according to on-chain transaction records published by XRPScan. Traders moved capital rapidly across accounts while network activity revived after a dismal month of sluggish transfers.
On-chain telemetry tracked by Santiment revealed that 2,147 distinct wallets now hold balances exceeding 1,000,000 tokens on the ledger. Data feeds showed that 18 new millionaire addresses materialized during a frantic 72-hour window as spot prices dipped to $1.27, demonstrating sustained accumulation by institutional whales despite broader spot market consolidation.
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