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In a move reflecting the ongoing expansion of decentralized finance (DeFi) within the Ripple ecosystem, SOIL is positioned to become the first application to utilize the proposed native lending infrastructure on the XRP Ledger. According to reports, the network is currently considering the activation of the XLS-65 and XLS-66 amendments to enable lending protocols. This development aims to enhance network efficiency by providing sophisticated financial services directly on-chain.
This advancement comes amid intense competition among Layer-1 networks, with Solana recording significant growth in Total Value Locked (TVL), exceeding $4.5 billion in Q1 2024 per Messari data. In comparison to peers, the XRP Ledger seeks to reduce programming complexity through these XLS amendments, which experts view as a competitive advantage over complex lending protocols on Ethereum that often require high gas fees.
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Sign InRegarding market performance, XRP traded near $0.4850 (at close June 23, 2026) as traders await the outcome of the vote on the new software amendments. Investors should monitor the upcoming economic calendar, specifically the Fed Interest Rate Decision on June 17, which could impact risk appetite in the crypto market, alongside any potential legal updates regarding Ripple in the coming days.