XRP News Today: XRP Ledger Burns 14 Million Tokens Amid Surge in Activity

The XRP Ledger (XRPL) has achieved a significant milestone, with over 14 million XRP permanently burned. This record reflects increasing network activity and points to the continued maturity of the XRP ecosystem. Unlike other cryptocurrencies that rely on halving events or fixed supply caps, XRP features a built-in burn mechanism that destroys a small amount of XRP with every transaction. This design helps prevent spam and slowly reduces the total supply over time. According to the latest figures, 14,003,265 XRP have been burned to date, marking a new all-time high and reinforcing the growing utility of the network.

Recent data shows a significant surge in activity across the XRP Ledger. The number of daily active addresses has jumped to over 295,000, up sharply from the 35,000 to 40,000 daily average seen over the last three months. This increase signals a rising demand for the ledger’s features, including fast settlement, low fees, and native tokenization support. In addition, the number of whale and shark wallets holding at least 1 million XRP has now exceeded 2,700, a historic high for the nearly 12-year-old asset. This trend reflects growing interest from high-value investors and long-term holders.

The XRP Ledger has also processed over 5.1 million transactions in a single 24-hour period without experiencing any network congestion. This surge in activity underscores the growing utility and efficiency of the XRP Ledger, which has been designed to facilitate fast and cost-effective cross-border transactions. The ledger's ability to handle such a high volume of transactions without issues highlights its robustness and scalability, positioning it as a strong contender in the blockchain space. The network has also seen a significant increase in daily active wallet addresses, jumping 142% quarter over quarter. This surge in user engagement suggests that more individuals and entities are adopting the XRP Ledger for their transactional needs, further bolstering its utility and relevance in the financial landscape.

Despite these impressive on-chain developments, the price of XRP has not yet fully reflected this momentum. As of the latest reports, XRP is trading at $1.97. This discrepancy between on-chain activity and price performance suggests that the market may not yet fully appreciate the ledger's advancements. However, such milestones contribute to the narrative of XRP as a maturing asset with active on-chain activity, which could potentially drive future price appreciation. The XRP Ledger's recent achievements include processing over 1.5 million payments in a 24-hour period, marking a four-month high in daily transactions. Additionally, the network has burned 14 million tokens, further reducing the circulating supply and potentially increasing the scarcity value of XRP. These developments indicate a surge in network activity and a growing interest in the XRP ecosystem.

The XRP Ledger's ability to handle tokenized assets is another key factor driving its growth. Tokenized assets, which represent real-world assets as digital tokens on a blockchain, are expected to reach a market value of $19 trillion by 2030. The XRP Ledger's efficiency and low transaction costs make it an ideal platform for tokenized assets, potentially increasing demand for XRP and driving its value over time. The pending approval of spot XRP ETFs could also serve as a significant catalyst for price appreciation. The approval of spot Bitcoin ETFs in 2024 led to a 125% increase in Bitcoin's price, and a similar outcome for XRP could be expected if spot XRP ETFs are approved. This development would provide investors with an easier and more regulated way to gain exposure to XRP, potentially driving demand and price.

While the current price action reflects mixed sentiment, XRP’s underlying metrics—rising network usage, deflationary tokenomics, and increased whale accumulation—paint a picture of long-term strength. As market dynamics evolve, the question remains: Can price action catch up to fundamentals? If buyers return and manage to push the price above the 50-day simple moving average (SMA) at $2.27, XRP could continue trading within its current range. A decisive break above $2.65 would likely confirm renewed bullish momentum and potentially trigger a fresh rally. However, data shows a wave of profit realization, with early holders cashing out at a rate of $68.8 million per day. This selling pressure could weigh on XRP in the short term. If the $2 support level fails to hold, analysts warn the price could retreat toward $1.61.