The XRP Ledger has surpassed a significant milestone, burning over 14 million XRP. This event highlights the growing network activity and its maturity.
Token Burning on XRP Ledger
The XRP Ledger features a built-in burn mechanism that destroys a small amount of XRP with every transaction. As per the latest figures from XRPScan, 14,003,265 XRP have been burned to date. This process helps prevent spam and gradually reduces the total supply in circulation.
Increased Network Activity
Recent data from Santiment indicates a significant surge in activity across the XRP Ledger. The number of daily active addresses has jumped to over 295,000, sharply up from the three-month average of 35,000 to 40,000 addresses. This signals a rising demand for the network's features such as fast transaction processing and tokenization support.
XRP Price Fluctuations
Despite strong fundamentals, XRP's price has yet to fully reflect the on-chain momentum. As of the report time, XRP is trading at $1.97. This marks a significant increase from its pre-rally level before November 2024. However, early holders are cashing out at a rate of $68.8 million per day, applying selling pressure. If the support level at $2 fails, the price may retreat to $1.61.
The XRP Ledger showcases growing interest from both small and large investors. While market fluctuations continue, it is clear that the network is strengthening its position, potentially signaling further price changes.
