XRP, the digital asset native to the XRP Ledger, has recorded a sharp rise in its burn rate toward the end of October, data from XRPScan showed. On October 30, 1,644 XRP were permanently removed from circulation through transaction fees, marking a 147% surge in daily burn activity.
Deflationary mechanism highlights
The XRP Ledger, a decentralized blockchain network designed for fast and low-cost payments, employs an automatic deflationary mechanism. Every transaction processed on the network incurs a fee paid in XRP. Unlike some blockchains that occasionally distribute burned tokens back to stakeholders, XRP burns are mandatory and irreversible, permanently reducing the coin’s supply.
As of this week, a total of 14,423,678 XRP has been burned since the inception of the network, representing 0.014% of the asset’s total supply. This ongoing reduction underscores the anti-inflationary structure built into the protocol.
XRPScan data indicated that XRP burned from fees reached 1,644 on October 30, contributing to a total burned amount of 14,423,678 XRP since the network launched.
Mini dictionary: XRPScan, an analytics platform specialized in providing real-time data and statistics about transactions, fees, and other activities on the XRP Ledger.
Price performance and market headwinds
Despite the increased burn activity, XRP’s market price has not followed suit. With just hours remaining in October, XRP trades down 15.86% for the month, setting it on track for its first monthly decline since July. In contrast, the token posted 30.11% and 7.91% monthly gains in August and September respectively.
The disappointing performance in October comes as several major cryptocurrencies struggled, defying the common “Uptober” narrative often cited for favorable crypto returns during this period. Analysts have linked the downturn to a combination of internal market concerns and recent security incidents affecting investor sentiment.
Binance heist: Impact and response
Adding to broader market pressures, Binance, one of the world’s largest cryptocurrency exchanges, reported a major security breach resulting in the theft of $6.3 billion in client assets. In a recent update, Binance stated it has covered approximately 90% of the stolen value and plans to restore withdrawals by Sunday, as part of its commitment to fully reimburse affected users.
Mini dictionary: Binance is a leading global cryptocurrency exchange, known for high trading volumes and a wide range of crypto asset offerings.
Binance revealed that after a $6.3 billion hack, it has successfully recouped about 90% of the stolen funds and promised to resume withdrawals within days as full compensation efforts move forward.
Q3 2026 highlights from the XRP Ledger
Despite a turbulent October, the official XRP X account reported strong network metrics for Q3 2026. The value of stablecoins held on the XRP Ledger increased by 25.2% to $1.03 billion, while net inflows into global XRP ETPs (exchange-traded products) jumped by 39.6% to $355.3 million.
Payment volume processed through the network grew 4.3% to 42.82 billion XRP. Native decentralized exchange (DEX) activity climbed 20.2% with more than $614.8 million in trading volume during the quarter. The value of distributed tokenized real-world assets (RWAs) rose by 29.2% to $498.7 million, supported by initiatives such as Aviva’s tokenized fund project with BNY Mellon.
| Metric | Q3 2026 Value | Change (%) |
|---|---|---|
| Stablecoins on XRPL | $1.03 billion | +25.2% |
| XRP ETP net inflows | $355.3 million | +39.6% |
| Payment volume | 42.82 billion XRP | +4.3% |
| DEX volume | $614.8 million | +20.2% |
| Distributed tokenized RWA value | $498.7 million | +29.2% |
