Key Takeaways
- Over 12 million XRP tokens have been permanently burned via the XRP Ledger (XRPL).
- The burn mechanism counters spam transactions while marginally reducing XRP's circulating supply.
- XRP's price surged 5.81% amid broader market recovery.
Detailed Breakdown of XRP Burn Statistics
According to XRPScan, the cumulative burned XRP reached 12,001,657 tokens—equivalent to **$7.2 million** at current prices (~$0.60 per XRP).
Recent Burn Trends:
- Last Hour: 299 XRP
- Past 24 Hours: 10,121 XRP
- Past Week: 72,926 XRP
- Since December 2023: 276,928 XRP
👉 Track real-time XRP burn data
Supply Impact:
- Circulating Supply: 54.2 billion XRP (0.02% reduction).
- Total Supply Remaining: 99.988% of max cap (100 billion).
How the XRPL Burn Mechanism Works
Every XRPL transaction incurs a 10-drop fee (0.00001 XRP), which is permanently destroyed. This:
- Prevents spam by imposing minimal costs.
- Gradually deflates supply over decades.
"The 12M burned XRP underscores the ledger's anti-spam efficiency. At current rates, full depletion would take millennia."
Market Response and Price Action
XRP rallied 5.81% to $0.60, outpacing many altcoins. Analysts attribute this to:
- Reduced sell pressure from burned tokens.
- Network activity spikes during the December 2023 inscriptions craze.
FAQs
Q: Does XRP burning make it deflationary?
A: Technically yes, but the effect is negligible—current burns reduce supply by just 0.02%.
Q: Why did burn rates spike in December 2023?
A: Increased spam transactions from XRPL inscriptions temporarily raised fees.
Q: Where can I monitor XRP burns?
A: Use tools like Burntracker.io or XRPScan.
Conclusion
While the XRP burn mechanism ensures network health, its macroeconomic impact remains minor. Investors should prioritize utility adoption over supply dynamics.
👉 Explore XRP trading strategies
Disclaimer: This analysis is for educational purposes only. Conduct independent research before investing.
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