diff --git a/Gemfile.lock b/Gemfile.lock
index e25c7667..1ee1b515 100644
--- a/Gemfile.lock
+++ b/Gemfile.lock
@@ -2,7 +2,7 @@ PATH
   remote: base
   specs:
     stellar-base (0.32.0)
-      activesupport (>= 5.0.0, < 8.0)
+      activesupport (>= 5.0.0, < 9.0)
       base32 (>= 0.3.0, < 1.0)
       digest-crc (>= 0.5.0, < 1.0)
       rbnacl (>= 6.0.0, < 8.0)
@@ -12,18 +12,18 @@ PATH
   remote: horizon
   specs:
     stellar-horizon (0.32.0)
-      excon (>= 0.71.0, < 1.0)
+      excon (>= 0.71.0, < 2.0)
       faraday (>= 1.6.0, < 3.0)
       faraday-excon (>= 1.1.0, < 3.0)
       faraday-follow_redirects (>= 0.3.0, < 1.0)
-      hyperclient (>= 0.7.0, < 2.0)
+      hyperclient (>= 0.7.0, < 3.0)
       stellar-base (= 0.32.0)
 
 PATH
   remote: sdk
   specs:
     stellar-sdk (0.32.0)
-      activesupport (>= 5.0.0, < 8.0)
+      activesupport (>= 5.0.0, < 9.0)
       faraday (>= 1.6.0, < 3.0)
       stellar-base (= 0.32.0)
       stellar-horizon (= 0.32.0)
@@ -32,10 +32,11 @@ PATH
 GEM
   remote: https://rubygems.org/
   specs:
-    activemodel (7.2.1.2)
-      activesupport (= 7.2.1.2)
-    activesupport (7.2.1.2)
+    activemodel (7.2.2)
+      activesupport (= 7.2.2)
+    activesupport (7.2.2)
       base64
+      benchmark (>= 0.3)
       bigdecimal
       concurrent-ruby (~> 1.0, >= 1.3.1)
       connection_pool (>= 2.2.5)
@@ -52,6 +53,7 @@ GEM
     backports (3.25.0)
     base32 (0.3.4)
     base64 (0.2.0)
+    benchmark (0.4.0)
     bigdecimal (3.1.8)
     bigdecimal (3.1.8-java)
     break (0.40.0)
@@ -69,39 +71,23 @@ GEM
       rake (>= 12.0.0, < 14.0.0)
     docile (1.4.1)
     drb (2.2.1)
-    excon (0.112.0)
-    faraday (1.10.4)
-      faraday-em_http (~> 1.0)
-      faraday-em_synchrony (~> 1.0)
-      faraday-excon (~> 1.1)
-      faraday-httpclient (~> 1.0)
-      faraday-multipart (~> 1.0)
-      faraday-net_http (~> 1.0)
-      faraday-net_http_persistent (~> 1.0)
-      faraday-patron (~> 1.0)
-      faraday-rack (~> 1.0)
-      faraday-retry (~> 1.0)
-      ruby2_keywords (>= 0.0.4)
-    faraday-em_http (1.0.0)
-    faraday-em_synchrony (1.0.0)
-    faraday-excon (1.1.0)
+    excon (1.2.0)
+    faraday (2.12.0)
+      faraday-net_http (>= 2.0, < 3.4)
+      json
+      logger
+    faraday-excon (2.3.0)
+      excon (>= 1.0.0)
+      faraday (>= 2.11.0, < 3)
     faraday-follow_redirects (0.3.0)
       faraday (>= 1, < 3)
-    faraday-httpclient (1.0.1)
-    faraday-multipart (1.0.4)
-      multipart-post (~> 2)
-    faraday-net_http (1.0.2)
-    faraday-net_http_persistent (1.2.0)
-    faraday-patron (1.0.0)
-    faraday-rack (1.0.0)
-    faraday-retry (1.0.3)
-    faraday_hal_middleware (0.1.1)
-      faraday_middleware (>= 0.9)
-    faraday_middleware (1.2.1)
-      faraday (~> 1.0)
+    faraday-net_http (3.3.0)
+      net-http
+    faraday_hal_middleware (0.2.0)
+      faraday (~> 2.0)
     ffi (1.17.0)
     ffi (1.17.0-java)
-    fiddle (1.1.4)
+    fiddle (1.1.5)
     formatador (1.1.0)
     gem-release (2.2.2)
     guard (2.18.1)
@@ -119,11 +105,11 @@ GEM
       guard-compat (~> 1.1)
       rspec (>= 2.99.0, < 4.0)
     hashdiff (1.1.1)
-    hyperclient (1.0.1)
+    hyperclient (2.0.0)
       addressable
-      faraday (>= 0.9.0)
-      faraday_hal_middleware
-      faraday_middleware
+      faraday (>= 2)
+      faraday-follow_redirects
+      faraday_hal_middleware (>= 0.2)
     i18n (1.14.6)
       concurrent-ruby (~> 1.0)
     jar-dependencies (0.4.1)
@@ -138,8 +124,9 @@ GEM
     lumberjack (1.2.10)
     method_source (1.1.0)
     minitest (5.25.1)
-    multipart-post (2.4.1)
     nenv (0.3.0)
+    net-http (0.5.0)
+      uri
     netrc (0.11.0)
     notiffany (0.1.3)
       nenv (~> 0.1)
@@ -212,7 +199,6 @@ GEM
       rubocop (>= 1.48.1, < 2.0)
       rubocop-ast (>= 1.31.1, < 2.0)
     ruby-progressbar (1.13.0)
-    ruby2_keywords (0.0.5)
     sawyer (0.9.2)
       addressable (>= 2.3.5)
       faraday (>= 0.17.3, < 3)
@@ -250,6 +236,7 @@ GEM
     tzinfo (2.0.6)
       concurrent-ruby (~> 1.0)
     unicode-display_width (2.6.0)
+    uri (1.0.1)
     vcr (6.3.1)
       base64
     webmock (3.24.0)
diff --git a/base/stellar-base.gemspec b/base/stellar-base.gemspec
index f4d251c8..ac674e55 100644
--- a/base/stellar-base.gemspec
+++ b/base/stellar-base.gemspec
@@ -31,7 +31,7 @@ Gem::Specification.new do |spec|
 
   spec.required_ruby_version = ">= 2.5.0"
 
-  spec.add_dependency "activesupport", ">= 5.0.0", "< 8.0"
+  spec.add_dependency "activesupport", ">= 5.0.0", "< 9.0"
   spec.add_dependency "base32", ">= 0.3.0", "< 1.0"
   spec.add_dependency "digest-crc", ">= 0.5.0", "< 1.0"
   spec.add_dependency "rbnacl", ">= 6.0.0", "< 8.0"
diff --git a/horizon/stellar-horizon.gemspec b/horizon/stellar-horizon.gemspec
index 1ee47209..71235010 100644
--- a/horizon/stellar-horizon.gemspec
+++ b/horizon/stellar-horizon.gemspec
@@ -26,9 +26,9 @@ Gem::Specification.new do |spec|
 
   spec.add_dependency "stellar-base", spec.version
 
-  spec.add_dependency "excon", ">= 0.71.0", "< 1.0"
+  spec.add_dependency "excon", ">= 0.71.0", "< 2.0"
   spec.add_dependency "faraday", ">= 1.6.0", "< 3.0"
   spec.add_dependency "faraday-excon", ">= 1.1.0", "< 3.0"
   spec.add_dependency "faraday-follow_redirects", ">= 0.3.0", "< 1.0"
-  spec.add_dependency "hyperclient", ">= 0.7.0", "< 2.0"
+  spec.add_dependency "hyperclient", ">= 0.7.0", "< 3.0"
 end
diff --git a/sdk/stellar-sdk.gemspec b/sdk/stellar-sdk.gemspec
index 0b485331..2161d4ca 100644
--- a/sdk/stellar-sdk.gemspec
+++ b/sdk/stellar-sdk.gemspec
@@ -29,7 +29,7 @@ Gem::Specification.new do |spec|
   spec.add_dependency "stellar-base", spec.version
   spec.add_dependency "stellar-horizon", spec.version
 
-  spec.add_dependency "activesupport", ">= 5.0.0", "< 8.0"
+  spec.add_dependency "activesupport", ">= 5.0.0", "< 9.0"
   spec.add_dependency "faraday", ">= 1.6.0", "< 3.0"
   spec.add_dependency "tomlrb", ">= 2.0.1", "< 3.0"
 end