The XRP Ledger (XRPL) has officially surpassed a major deflationary milestone, with over 14 million XRP permanently burned. This record reflects increasing network activity and points to the continued maturity of the XRP ecosystem. Built-In Burn Mechanism Continues to Shrink Supply 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 from XRPScan, 14,003,265 XRP have been burned to date. This not only marks a new all-time high but also reinforces the growing utility of the network. On-Chain Growth Accelerates Recent data from Santiment 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. Price Holds Steady Amid Profit-Taking Despite strong fundamentals, XRP’s price has yet to fully reflect the on-chain momentum. As of report time, XRP is trading at $1.97, according to CoinMarketCap. This marks a major increase from its pre-rally level before November 2024, giving early investors sizable gains. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 However, data from Glassnode 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, a nalysts warn the price could retreat toward $1.61. Outlook Hinges on Key Technical Levels On the flip side, 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. 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? Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on Twitter , Facebook , Telegram , and Google News The post XRP Ledger Hits New Milestone, Will Price Keep Up? appeared first on Times Tabloid .
