XRP has regained the $100 billion market cap milestone after a sharp 24-hour rally, while the XRP Ledger (XRPL) moves one step closer to activating a major new feature. Data from CoinGecko shows XRP rose 8% in the latest session, with the token testing resistance near $1.65 amid expanded trading activity.
Market-Wide Crypto Strength
The move placed XRP among the top performers in the broader cryptocurrency market. Other assets including Arbitrum, Flare, and Zcash also recorded meaningful gains during the same trading period.
Even with the latest surge, XRP remains more than 55% below its all-time high from nearly a year ago. The gap underscores how much ground the token still needs to cover to regain its previous peak.
Trader Peter Brandt has suggested XRP could eventually reach $5.40. Meanwhile, Coinbase data indicates that expected volatility around XRP has risen in recent sessions.
ETF Inflows and Whale Activity Pick Up
US spot XRP ETFs recorded $13.03 million in net inflows on September 22, according to CoinGlass. That followed a day with zero net inflows. Total cumulative inflows across those funds now stand at roughly $936.66 million.
One fund accounted for about $12.47 million of the September 22 total, or around 95.7% of the day’s net buying, signaling that a single product drove most of the demand.
On-chain data also points to rising activity. Santiment logged 1,917 XRP transactions worth at least $100,000 on Tuesday, the highest one-month count. The XRP Ledger added 3,647 new wallets during the same stretch.
Notably, the burst in high-value transfers came while XRP was rallying, not during a selloff. That timing sets the current increase apart from the large transfers that often accompany market declines.
XRPL Permission Upgrade Moves Toward October Activation
The PermissionDelegationV1_1 amendment entered a 14-day activation countdown on September 21 after 29 of the XRP Ledger’s 35 trusted validators voiced support. If that support is maintained, the amendment could activate on October 5 at 11:18 UTC.
The feature must keep the backing of at least 80% of validators, meaning 28 or more validators must stay supportive during the countdown. If support falls below that level, the activation clock resets.
When active, the protocol will allow one XRPL account to grant limited authority to another account without giving up control of the primary keys. For example, a stablecoin issuer could authorize a compliance system to approve customers, while keeping its main keys offline.
Another operations account could receive permission to process payments, but it would not be able to change keys or transfer permissions to a third party. Each delegated account can receive up to 10 permissions, and the main account can later modify or revoke them.
This design mirrors traditional banking controls, where payment, compliance, and other functions run under separate authority structures.
Revised Upgrade Follows Earlier Security Flaw
PermissionDelegationV1_1 is the second attempt to introduce delegated permissions on the XRP Ledger. The original version contained a vulnerability that could have allowed an attacker to force another account to pay transaction fees without a valid signature.
Repeated transactions with deliberately high fees could have drained a victim’s XRP balance. The issue stemmed from the order in which the software validated transactions: account permissions were checked before the system verified whether a signature was valid.
As a result, some failed transactions could still charge fees before the invalid signature was detected. A community tester found the flaw on September 15, 2025, while testing outside the main network.
Validators were told to reject the original amendment, and it never reached activation. The revised PermissionDelegationV1_1 proposal has now gathered enough initial support to start the countdown, but it still needs sustained validator backing through October 5 to become active.
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