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XRP Key XRP price points and progress of XRP Ledger upgrade
XRP prices fell 3.24% to about US$1.35, losing their support level of US$1.40. Analyst Ali Martinez said that if the XRP monthly line closes firmly above $3.66, its price is expected to reach $60. Ripple CTO David Schwartz pointed out that it is possible for XRP to surpass Bitcoin in the future market value, but this will benefit from XRP's faster growth rate rather than Bitcoin's shrinking market value.
XRP Ledger's Lending Protocol amendment is currently on the voting stage, with a support rating of 31.43%, which is still far from the 80% support required for activation. Version 3.4.0 of XRPL has reached its first beta milestone before the planned loan agreement is released.
Observation on Key Points of XRP Price
On Thursday, XRP traded at about US$1.35, down 3.24% during the day. The decline sent the token below $1.40, a level near which buyers and sellers have been vying for control over the past few weeks. If the $1.35 line of defense falls, traders will focus on $1.30 as the next line of defense. To rebound, XRP first needs to break through $1.40 and then overcome resistance between $1.45 and $1.50.
Analyst Ali Martinez proposed a long-term bullish logic for XRP. He pointed out that a solid monthly closing above $3.66 could open the door to a $60 price because it would break the long-term pattern of previous attempts to maintain higher-than-previous yields but failed. Reaching just $3.66 would require XRP to rise nearly 170% from current levels; reaching $60 would mean a nearly 4,000% jump from today's trading price.
The current focus is mainly on the US$1.30 to US$1.50 range rather than any long-term goal. Traders are closely watching prices around $1.40 for directional signals. In addition, XRP is also trading cautiously awaiting the release of new U.S. inflation data. The report may change market expectations for interest rates, which in turn affect demand in the entire cryptocurrency market.
Ripple CTO explores the possibility of XRP market cap surpassing Bitcoin
In an X Space discussion hosted by verifier operator Vet, David Schwartz answered questions about whether the total market cap of XRP could surpass Bitcoin. He said it was possible, but explained the path to achieving it: "It won't be achieved by shrinking Bitcoin's market value, but by XRP growing faster than Bitcoin." He cited XRP Ledger's speed and functional diversity as a basis for potential future growth. Schwartz did not give a specific price target or timetable.
XRP Ledger upgrade progress
In addition to price fluctuations, XRP Ledger is moving towards its next major upgrade. XRPL 3.4.0 will include Lending Agreement v1.1, further enriching the network's decentralized financial tools.
The current amendment to the loan agreement is open to veifiers for voting, and 31.43% of the votes have been cast so far. Since activating the amendment requires an 80% support rating, the current total does not guarantee that the proposal will pass. The system allows unsecured loans to be made on the blockchain using pooled funds in a single asset vault and relies on off-chain underwriting mechanisms to evaluate borrowers who meet XLS-66 specifications.
On August 24, after consolidating pull requests, XRPLF updated the software version from 3.4.0-b0 to 3.4.0-b1. This update does not add any new transaction types, amendments, or RPC methods.
XRPL Operations will hold an X Space event on loan agreements at 1 pm EST on September 11. Scheduled participants include XRPL Foundation CTO Angell Denis, RippleX's Ayo Akinyele and Jazzi Cooper, and RippleX engineer Vito Tumas.
