XRP Burn Rate Rises with Increased Ledger Activity

XRP's ledger activity has surged recently, causing the XRP burn rate from transaction fees to rise above its recent average. According to Pluang, about 337 XRP was burned recently compared to the 30-day average of 319 XRP.

This increase in burn rate reflects higher network usage, as transactions and payments have grown significantly. However, the burn amount remains too small relative to the tens of billions of XRP in circulation to directly affect supply or price.

The burn rate mainly indicates network activity rather than creating scarcity. XRP's price recently dropped below key support levels, and its near-term price will depend more on buyers defending support than on the burn mechanism.