[Ripple's XRP Ledger System Just 7 Votes Away from Activation] According to CoinDesk, Ripple's XRP Ledger lending system, designed for banks and payment companies, has gained three new validator support since mid-October, bringing its total votes to 22. It is just 7 votes short of the 29 required for activation. The system and its accompanying SingleAssetVault amendment each need 29 votes within two consecutive weeks to activate. As of Wednesday, "LendingProtocol" and its first patch each had 22 votes, while "SingleAssetVault," used to create liquidity pools, had 23 votes. The design requires depositors to deposit XRP or other tokens into a vault, which is then lent out by a loan broker for a fixed term. Borrowers do not need to provide collateral, and the system relies on off-chain underwriting and risk management.