XRP Ledger Surpasses 14 Million Tokens Burned Amid On-Chain Growth

XRP Ledger has reached a major deflationary milestone, with over 14 million XRP burned, according to XRPScan. The total burn count now stands at 14,003,265 XRP, marking the highest on record and underscoring the network’s growing on-chain activity. Unlike cryptocurrencies that use halving events or fixed supply limits, XRP features a built-in burn mechanism that destroys a small amount of XRP with every transaction. This approach helps combat spam and gradually reduces the token supply over time.

The recent burn achievement reflects the XRP Ledger’s expanding usage. Data from Santiment shows a dramatic rise in activity, with daily active XRP addresses averaging over 295,000, up from a typical 35,000 to 40,000 just months ago. Furthermore, the number of wallets holding at least 1 million XRP has climbed above 2,700, a first in the network’s 12-year history.

Despite the burn milestone and growing activity, XRP’s price remains volatile. As of writing, XRP is trading at $2.13, over 300% higher than its pre-November 2024 levels. However, Glassnode data indicates early investors are realizing profits at a rate of $68.8 million daily, suggesting a potential distribution phase. If the $2 support level fails, prices could dip to $1.61. On the other hand, a rebound above the 50-day SMA at $2.27 could signal stability. A breakout past $2.65 may ignite a new bullish trend.

This milestone reinforces XRP’s evolution as a utility-focused asset with strong on-chain fundamentals. Continued address growth, rising whale activity, and deflationary tokenomics could shape XRP’s long-term value narrative.