Key Insights
- •The XRPL v3.0.0 amendment upgrade, focusing on bug fixes, accounting accuracy, and other features, is set for mainnet adoption in two weeks.
- •An XRPL developer identifies poor marketing, limited exposure, and naming confusion as the network's biggest challenges.
- •XRP price has seen renewed momentum, reaching a new all-time high amid ecosystem developments.
XRP price is in the spotlight as RippleX, the developers behind the XRP Ledger (XRPL), has announced a timeline for the activation of Version 3.0.0 amendments on mainnet. After activation, scheduled around the end of January 2026, the XRPL network will enforce the new rules.
New Features and Benefits of XRPL Amendment V3.0.0
According to the announcement, XRPL Version 3.0.0 is an infrastructure milestone. It introduces several amendments to how the XRPL processes transactions and maintains its ledger. Specifically, the upgrade focuses on bug fixes, accounting accuracy, and groundwork for future features.
Key amendments and fixes in v3.0.0 include fixIncludeKeyletFields, fixPriceOracleOrder, fixAMMClawbackRounding, fixMPTDeliveredAmount, and fixTokenEscrowV1. The fixIncludeKeyletFields is related to internal ledger data handling and adds missing keylet fields to entries.
On the other hand, fixPriceOracleOrder enhances consistency in price oracle operations, while fixMPTDeliveredAmount adds missing metadata fields for MPT payments. Other changes in the release include performance optimizations, security tightenings, and preparation for future protocol extensions.
These amendments have now reached the required supermajority support to go into mainnet activation. According to RippleX, mainnet activation for v3.0.0 is set to happen in two weeks.
XRPL validators are, therefore, urged to upgrade their software to the current version to avoid being blocked. If they are blocked, they risk downtime, missed validations, or divergence from the canonical ledger.
Supporters claim XRPL 3.0.0 is exactly what institutional and tokenized asset flows require at the moment. The mandatory upgrades, according to them, mean that XRPL is moving forward, with or without spectators.
Notably, the upgrade mainnet activation announcement comes shortly after the XRP Ledger recently introduced the Multi-Purpose Token (MPT) to simplify tokenization and compliance. Additionally, Ripple recently announced a partnership with AWS to boost XRPL capabilities.
The Ultimate Challenge of XRP Ledger
While XRPL prepares for v3.0.0 amendments, a popular developer, Panos, has highlighted the biggest problem of the network. This comes in response to a post from Wietse Wind, who noted a timing issue with the ledger.
According to Wietse Wind, XRPL either arrives too early or too late for others and is struggling to catch up.
XRPL developer Panos agrees with Wietse Wind, but noted bad marketing and exposure as the biggest problem with the ledger. Panos explained that XRPL had long expanded into decentralized finance (DeFi) before the introduction of Ethereum (ETH).
However, Ethereum popularized the sector, inventing terms like stablecoins and smart contracts, and making all these features attractive.
The developer added that much of the public narrative has centered on XRP as an asset and its price. He claimed this overshadowed the ledger’s technical strengths, such as its speed, low fees, and energy efficiency.
Furthermore, Panos highlighted another challenge with branding and naming. He noted that XRP and XRPL started as Ripple and the Ripple network, and Ripple Labs launched as OpenCoin. Eventually, the names were changed to Ripple, creating confusion as it became hard to separate the corporate entity from the ledger.
Underlying Impact on XRP Price
Unsurprisingly, the XRP price has responded positively to the latest ecosystem development. According to CoinMarketCap data, XRP price is currently trading at $2.14, representing a 4% increase over the past 24 hours.
Within this period, the trading volume also increased by more than 74% to $4.7 billion. This rally suggests increased adoption from both retail and institutional XRP investors.
Market analyst CryptoWZRD earlier predicted that XRP is set for a major breakout, citing historical patterns. According to the analyst, XRP price might be preparing for a repeat of its November 2024 rally.
He predicted that XRP could climb to about $14.28 if the coin mirrored the 580% surge from its previous breakout.