Ripple Releases Critical XRP Ledger (XRPL) Update to Fix Security Vulnerabilities

Ripple has announced a new XRP Ledger (XRPL) update to fix critical security vulnerabilities in the reference server software. This release addresses vulnerabilities that could disrupt server operations, strengthening network stability after major feature introductions, such as lending protocol and single asset vaults, in the previous upgrades.

Ripple Releases Critical XRP Ledger Update

According to the XRPL blog, Ripple developers have released version 3.1.2 of rippled, the reference server implementation of the XRP Ledger protocol. The release fixes a critical issue that could cause servers to crash or restart unexpectedly.

The update has no new features or amendments. Instead, it focuses on essential fixes for stable XRPL server operations. This includes a minor code refactoring to improve exception handling.

Node operators and validators are urged to upgrade immediately to maintain uninterrupted service and avoid potential outages or restarts. Notably, failing to update could lead to degraded server performance or instability.

The vulnerabilities were found and responsibly reported by members of XRPL Commons such as Luc Bocahut, Romain Thepaut, and Thomas Hussenet. The security fix is developed collaboratively by the XRPL Commons team and RippleX.

The update follows a key upgrade that introduced lending protocol and single asset vaults features. Also, version 3.1.1 addressed a critical security vulnerability found in the pending Batch amendment, preventing unauthorized fund transfers.

In an X post validator Vet said the XRP Ledger is the first tokenization and DEX platform in crypto, with the XLS-66 lending protocol boosting liquidity for idle tokenized capital. Moreover, the recent Permissioned DEX upgrade on XRPL mainnet will further onboard TradFi institutions on the network.

XRP Price Surges 4%

XRP jumped almost 4% in the past 24 hours, with the price currently trading at $1.42. The 24-hour low and high are $1.37 and $1.42, respectively. Furthermore, trading volume has increased by 16% over the last 24 hours, indicating a rise in interest among traders.

However, XRP is still below the 50-SMA, 100-SMA and 200-SMA in the daily timeframe chart. Whereas, Relative Strength Index (RSI) is bouncing above 51, signaling potential for further upside move. However, traders are bracing for crypto options expiry and PCE inflation data today before more trades.

XRP Ledger developers have also proposed an XRPL sidechain upgrade to add options trading. This would include American-style options, 200x leveraged margin trading, and a trustless cross-chain bridge.

Derivatives markets data showed massive buying activity. At the time of writing, the total XRP futures open interest surged almost 9% to $2.64 billion in the last 24 hours. The 4-hour XRP futures OI climbed more than 3%, with a 1.68% rise on CME and almost 3% jump on Binance.