XRP’s burn rate increased by 147% toward the end of October, with 1,644 XRP burned as transaction fees on October 30, according to data from XRPScan. This surge in deflationary activity occurred while the token’s price declined 15.86% for the month, marking its first red month since July.
Deflationary Mechanics and Supply Reduction
The XRP Ledger operates a deflationary mechanism that permanently removes small amounts of XRP from circulation whenever transactions are processed on the network. Unlike some blockchains that use scheduled mechanisms to distribute burned tokens, XRP burns are automatic and tied directly to transaction fees. Every transaction on the XRP Ledger requires a fee denominated in XRP, which is then burned.
According to the data, a total of 14,423,678 XRP has been burned to date. This figure represents 0.014% of the token’s total supply. The recent spike in burn activity reflects the network’s ongoing process of reducing circulating supply through routine fee payments.
Price Performance and Market Context
October is frequently referred to as “Uptober” in crypto circles due to a historical track record of outperformance for major digital assets. However, major cryptocurrencies, including XRP, are down for the current month. With few hours remaining in October, XRP is down 15.86%, positioning it for its first monthly decline since July.
The price drop follows strong gains in the preceding months. XRP closed August up 30.11% and September up 7.91%. Traders had expected this positive price run to continue into October, but concerns within and outside the market weighed on crypto prices. One significant factor cited is a recent heist at Binance, which resulted in the theft of $6.3 billion in client assets.
Binance stated that it has covered about 90% of the value of the cryptocurrency stolen by hackers earlier this week. The exchange plans to restore withdrawals by Sunday, making progress on its pledge to fully reimburse customers for the stolen assets.
Q3 2026 Ledger Statistics
The official XRP X account shared key highlights for the third quarter of 2026, indicating growth in several network metrics. The amount of stablecoins on the XRP Ledger increased by 25.2% to $1.03 billion during the quarter. Net inflows of XRP ETP globally jumped by 39.6% to $355.3 million.
Payment volume on the XRP Ledger rose 4.3% to 42.82 billion XRP in Q3 2026. Native DEX volume increased by 20.2% to $614.8 million over the same period. Additionally, the value of distributed tokenized real-world assets (RWA) jumped 29.2% to $498.7 million. This growth coincided with Aviva’s investors launching a tokenized fund with BNY Mellon.
Frequently Asked Questions
How much XRP was burned on October 30?
Data from XRPScan indicates that 1,644 XRP was burned as fees on October 30. The total amount of XRP burned so far is 14,423,678, which is 0.014% of the total supply.
What is Binance’s status on reimbursing stolen assets?
Binance stated it has covered about 90% of the value of cryptocurrency stolen in the recent heist. The exchange plans to restore withdrawals by Sunday while working toward fully reimbursing customers.
