Web3 security company Halborn has completed a new security review of Ripple’s XRP Ledger (XRPL) Lending Protocol and reported that no critical or high-risk vulnerabilities were found.
The re-audit focused on updates made to the protocol after an earlier security review. Halborn examined whether the latest version matched the XLS-0066d lending specification and checked key areas such as transaction validation, accounting systems, access controls, state management, and protocol security.
According to Halborn, the audit identified five findings in total. None were classified as critical or high risk. The review found one medium-level issue, two low-risk issues, and two informational observations.
One medium-level issue involved a potential way to bypass limits on vault assets through loan interest calculations. Ripple fixed the problem during the review process. Another low-risk issue related to a missing security check in a loan management function, which was also resolved.
The remaining findings involved technical design and validation matters. Ripple either addressed them or formally acknowledged them after evaluation.
Halborn stated that all reported issues were reviewed and handled, resulting in a 100% resolution rate for the audit findings.
The XRP Ledger Lending Protocol is designed to support fixed-term lending using pooled funds from Single Asset Vaults. Unlike many decentralized finance (DeFi) lending platforms that require borrowers to provide excess collateral, the XRPL system relies on off-chain credit assessments and underwriting to evaluate borrowers.
The protocol is part of Ripple’s broader effort to expand the XRP Ledger beyond payments and remittances. Upcoming features such as native lending and vault systems aim to bring more institutional-grade financial services to the network.
Ripple has also been building additional use cases around the XRP Ledger, including AI-powered payment tools, tokenized asset settlement solutions, and the use of RLUSD for digital asset transactions.
While the successful audit is an important milestone, it does not guarantee adoption. The next challenge will be attracting developers, lending operators, and borrowers to use the platform once it becomes fully available.
For XRP holders, the key question remains whether these new services will generate meaningful network activity and increase demand for XRP and other assets operating on the XRP Ledger.
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