Developers working on the XRP Ledger have agreed on major changes to the XRPL in response to the blockchain’s recent surge in popularity.
According to developer WietseWind on the social media platform X, XRPL Labs changed the configuration of its validator last month to lower fees and reserve requirements in anticipation of rising activity on-chain.
“There have been several discussion threads about Reserves and Fees on the XRPL.
On behalf of XRPL Labs I just changed the configuration of our validator, to be enabled the next validator restart.”
According to the developer, the adjustments aim to lower barriers for new users, including a significant reduction in the required reserves.
As of December 2nd, reserve requirements for XRPL users have now been lowered from 20 to 1 XRP.
According to pseudonymous XRPL developer Vet, the move has freed up excess XRP for traders.
“XRP Ledger reserves just dropped!
Activating an XRP account cost now 1 XRP
Holding a Token Trustline only 0.2 XRP
Excessive XRP is now freed up in your account that you can spend now!!”
Developers say the changes will make it more affordable for users to participate in the XRP Ledger ecosystem, thus broadening the blockchain’s user base.
Ripple CTO David Schwartz also asked validators to upgrade to  2.3.0 of rippled, the reference server implementation of the XRP Ledger.
The move comes at a time when XRP’s value has soared to $2.65, its highest level since 2018. XRP is worth $2.51 at time of writing, up 82% from a week ago.
Follow us on X, Facebook and TelegramDon't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
