XRP Burn Rate Surges 60% in 24h Amid On-Chain Activity Rise
XRP’s burn rate has accelerated sharply, rising 29% to 676 XRP on October 24 before jumping over 60% to 1,073 XRP within 24 hours. This increase signals heightened on-chain activity on the XRP Ledger, driven by growing demand for cross-border transfers and tokenized asset operations. Each transaction burns a small amount of XRP, reinforcing the deflationary model and reducing circulating supply. Traders view higher burn rates as a bullish indicator, as they support price momentum and scarcity. Coupled with low fees, fast settlement, and testing key resistance levels, the sustained deflationary pressure underpins XRP’s long-term value proposition.
Bullish
The sharp rise in XRP burn rate, now up over 60% in 24 hours following a 29% jump earlier, underscores growing on-chain demand and transaction volume. Higher burns reduce circulating supply, enhancing scarcity and supporting price. In the short term, traders may see this as a bullish momentum signal, especially as XRP tests key resistance levels. Over the long term, the sustained deflationary mechanism and expanded use cases from cross-border transfers and tokenization bolster XRP’s value proposition, suggesting continued upward pressure on price.