The XRP Ledger's proposed lending upgrade moved closer to its activation threshold on Nov. 12, 2026, as validator support for the LendingProtocol amendment reached 22 votes — seven short of the 29 required to advance. The development came as XRP traded near $1.04, with analysts weighing support around $1 against a possible recovery toward $1.12.

LendingProtocol Needs Seven More Validator Votes

The lending proposal has so far drawn support from 22 of the network's 35 trusted validators. Seven additional votes would lift LendingProtocol to the 29 required for the next stage. Two companion proposals are also under review: SingleAssetVault holds 23 votes, while LendingProtocolV1_1 has 22.

Even at 29 votes, the changes would not activate immediately. The XRP Ledger requires support from more than 80% of trusted validators for 14 consecutive days, and if the count falls below that level at any point, the countdown restarts. The 29-vote target corresponds to just over 80% of the 35 trusted validators, matching the sustained-support requirement that governs activation. All three amendments remain in the voting stage.

As written in the proposal, asset vaults would fund fixed-term loans denominated in XRP or other eligible tokens. Loan brokers would verify borrowers outside the ledger and manage their credit risk, while the XRPL records loan agreements, repayments, and defaults. The framework also includes first-loss capital to absorb a portion of borrower losses.

Ledger Activity Continued During Voting

Network usage stayed elevated while validators considered the proposals. On November 11, the ledger handled roughly 3.9 million transactions, including about 659,300 payments, 956,300 decentralized exchange transactions, and 153,800 swaps. Those figures reflect the ledger's existing payment and trading functionality; the amendments under vote would add lending to that on-chain mix if they clear the validator process.

XRP Holds Near $1 as Momentum Indicator Turns Red

XRP remained under pressure on November 12 after falling more than 2% over the prior 24 hours. Its two-week candle opened near $1.11, climbed to roughly $1.12, and dropped as low as $1.01. At the time of writing, XRP traded around $1.02, close to the bottom of that range.

Analyst EGRAG Crypto highlighted a red turn in the two-week Gaussian Channel, a long-term trend indicator, in a post on X. The comparison centers on an earlier cycle in which XRP formed a broad double bottom while the channel was red — a historical parallel that does not, on its own, confirm another bottom today.

In that longer-term projection, XRP sits between two upward-sloping lines stretching across several years. The lower line runs near the current price region, so holding above it would keep the long-running pattern intact, while a break beneath it would put the next lower support zones under scrutiny. The same projection identifies roughly $3.50 as the next major breakout area.

Long-Term Trendline Faces a Third Test

A separate historical comparison shows an ascending trendline that has intersected XRP's price on several occasions. The first sequence ran from 2013 through 2017 and featured repeated pullbacks to rising support before sharp rallies. A later sequence began around 2020: XRP touched rising support in 2022 and again near the end of 2024, and the current decline is approaching a third retest, as charted by analyst ChartNerd in a post on X.

The chart marks earlier advances of approximately 231% and 695% following prior touches, with a projected gain above 1,000% from a new test. For now, the decisive question is whether XRP stays above the rising line.

Oversold RSI Puts $1.12 in View

On the daily timeframe, XRP's Relative Strength Index has slipped to around 24. Readings below 30 generally signal oversold conditions, though a weak market can remain oversold for an extended period.

The near-term recovery path begins at $1.12, close to the 23.6% Fibonacci retracement near $1.1204. Higher reference levels stand around $1.29 and $1.44, and XRP would need to reclaim those areas in sequence before the larger bullish projections come into play. The immediate focus remains on $1 support, while the proposed lending amendments still need more votes before their 14-day approval window can begin.

This article provides cryptocurrency market information, not financial or investment advice. Network amendments face approval and implementation risks. Technical indicators and analyst projections do not guarantee future prices.

Source: The Market Periodical — XRPL News: Lending Proposal 7 Votes Short as XRP Tests $1