Web3 security firm Halborn has completed a re-audit of Ripple’s XRP Ledger Lending Protocol, finding no critical or high-risk flaws. The review focused on code changes made after an earlier audit and checked whether the updated implementation matched the XLS-0066d lending specification.
Halborn said the engagement for Ripple ran from Dec. 16, 2025, to Jan. 12, 2026. The firm reviewed transaction checks, state consistency, accounting rules, parameter limits, and access controls across the protocol.
Five findings reported, none in critical or high-risk categories
The re-audit identified five issues in total: zero critical, zero high-risk, one medium, two low-risk, and two informational findings. According to the report, 100% of reported findings were addressed. Some were fixed by Ripple’s engineering team, while others were accepted or acknowledged after review.
The medium-severity issue involved a maximum vault assets bypass through loan interest, which Halborn marked as resolved. One low-risk issue concerned a missing freeze check in LoanBrokerSet, and Ripple fixed that as well. The report also listed a degraded state design flaw, a grace period edge case, and a cover rate validation issue, with those items shown as accepted or acknowledged in the status table.
Protocol is built for fixed-term, on-chain unsecured loans
The XRP Ledger Lending Protocol is designed to support fixed-term, uncollateralized loans on-chain using pooled funds from a Single Asset Vault. Borrower assessment relies on off-chain underwriting instead of automated collateral liquidation, which sets it apart from many DeFi lending systems.
Under the design, loan brokers can create lending terms, manage vaults, and handle borrower relationships within defined ledger rules. Earlier reporting noted that the XLS-65 and XLS-66 amendments would bring native vaults and fixed-rate lending directly to XRPL. The structure leans toward underwritten credit, fixed durations, and permissioned access rather than open overcollateralized DeFi lending.
Ripple continues to expand XRPL use cases beyond payments
The re-audit lands as Ripple keeps pushing XRP Ledger into areas beyond payments. Recent coverage cited Ripple’s XRPL AI Starter Kit, which supports agent-driven payments using XRP and RLUSD through the x402 standard. Another reported test involved Ripple, JPMorgan, Mastercard, and Ondo Finance in a tokenized Treasury redemption flow that settled on XRPL in about five seconds using RLUSD as the settlement asset.
This lending re-audit adds another technical milestone to that broader roadmap. It shows that one more security review has been completed and that the reported issues were handled. Whether developers, vault operators, and borrowers adopt the system after activation remains a separate question.