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XRP's burn rate is shooting up toward the end of October, surging 147%. According to data from XRPScan, XRP burned as fees came in at 1,644 on October 30.
The burn activity is a representation of the XRP Ledger's deflationary mechanism, which permanently removes small amounts of XRP from circulation every time transactions are processed on the network.
Some blockchains have scheduled mechanisms to distribute burned tokens, but XRP burns are automatic through transaction fees. Every transaction on the XRP Ledger requires a fee denominated in XRP and that fee is burned.
A total of 14,423,678 XRP, representing 0.014% of its total supply, has been burned so far.
XRP price stays down
Often referred to as "Uptober" in crypto circles thanks to a track record of outperformance, October might need to shed that nickname given that major cryptocurrencies, including XRP, are down for the month. With few hours left in the month, XRP is down 15.86% so far, on track for its first red month since July.
XRP closed August and September up 30.11% and 7.91% respectively, with traders expecting the positive price run to continue, but this was not to be, as concerns within and outside the market weighed on crypto markets.
The most recent is the Binance heist, which saw $6.3 billion in client assets stolen. In a positive update, Binance said it has covered about 90% of the value of cryptocurrency that hackers stole earlier this week and plans to restore withdrawals by Sunday, making progress on a pledge to fully reimburse customers.
XRP had a nice Q3 2026 and the official XRP X account shared key highlights. The amount of stablecoins on the XRP Ledger increased by 25.2% to $1.03 billion, while net inflows of XRP ETP globally jumped by 39.6% to $355.3 million. Payment volume rose 4.3% to 42.82 billion XRP, while native DEX volume rose 20.2% to $614.8 million. Distributed tokenized RWA value jumped 29.2% to $498.7 million as Aviva's investors launched a tokenized fund with BNY Mellon.