XRP Ledger to Adjust Transaction Fees as RippleX Pushes for Network Upgrades

Austin Mwendia

published: December 5, 2024 at 05:40 PM GST

updated: December 5, 2024 at 02:50 PM

2 mins read

News

RippleX proposes raising XRPL transaction fees to 200 drops, enhancing efficiency and decentralization.

Validators must adapt to XRPL fee changes using SDKs, ensuring smooth transitions and reduced transaction failures.

Lower XRPL fees aim to boost transaction volumes, attract users, and strengthen XRP’s market adoption.

RippleX developers have introduced a proposal to increase XRP Ledger (XRPL) transaction fees, aiming to boost efficiency and affordability. According to the protocol’s announcement, the proposed adjustment will raise fees from 10 drops to 200 drops, equating to just $0.0005 in USD terms.

This adjustment aims to enhance the platform’s operational efficiency while maintaining low costs for users.

Details of the Proposal

RippleX explained that the proposed fee adjustment will primarily impact validators. Validators must avoid hardcoding fees to prevent disruptions. Instead, they should use Software Development Kits (SDKs) to auto-fill the fee field.

RippleX has highlighted that the proposal reinforces decentralization within the XRPL ecosystem. Validators may experience increased failed transactions temporarily as they adjust to the new fee structure.

Moreover, the proposal has sparked conversations within the XRP community. Many support the move, noting that lower costs could attract more users to the network. RippleX developers expressed confidence that the adjustment will strengthen XRPL’s utility and competitiveness in the