XRP Ledger Prepares Major 3.2.0 Upgrade as On-Chain Data Signals XRP Accumulation
The XRP Ledger (XRPL) is preparing to roll out one of its most significant infrastructure upgrades to date, with version 3.2.0 set to go live on the mainnet. According to developers and XRP Ledger Operations, the update is aimed at improving network stability, strengthening security, and modernizing the protocol’s core architecture.
Core Software Gets a New Name
On June 4, XRP Ledger Operations announced the upcoming release of XRPL version 3.2.0. As part of the upgrade, the network’s main server software will be renamed from “rippled” to “xrpld.” The change is intended to create a more unified reference implementation for users and node operators across the ecosystem.
Ahead of the rollout, infrastructure providers, validators, and node operators will need to update their systems. The operations team noted that additional infrastructure adjustments may be required during the transition and has released a detailed technical roadmap to help ensure uninterrupted network participation and consensus.
Building on the 3.1.3 Upgrade
Version 3.2.0 follows the activation of XRPL version 3.1.3 in May 2026. That update introduced enhancements to NFT management, vault systems, permissioned domains, and the network’s lending protocol.
Activated at ledger index 104,507,137 on May 27, the release was designed to improve the network’s long-term reliability. At the time, all nodes running outdated software were required to upgrade in order to remain active in the consensus process.
The update was reportedly approved with 100% consensus across the network. Ripple CTO Emeritus David Schwartz also addressed community questions and provided additional insights into the upgrade process.
XRP Price Weakens Despite Signs of Accumulation
While XRPL continues to advance technologically, XRP’s price has remained under pressure. The cryptocurrency has declined from around $3.65 in July 2025 to approximately $1.20 as of June 2026.
After closing May at $1.33, XRP slipped to $1.29 on June 1, fell further to $1.21 on June 2, and traded near $1.18 by June 4.
In less than a week, XRP lost roughly 11% of its value, wiping out more than $8 billion in market capitalization. Broader weakness across the crypto market, including Bitcoin’s drop to around $61,300, has been cited as a key factor behind the decline.
However, on-chain data paints a different picture. More than 25 million XRP were withdrawn from cryptocurrency exchanges during the recent sell-off. Such movements are often viewed as a sign of accumulation, as investors typically move assets into long-term storage rather than preparing them for sale.
At the same time, the number of wallets holding at least 10,000 XRP reached a new all-time high of 332,230 addresses. The data suggests that many investors continue to accumulate XRP despite the recent price weakness.
