XRP burn rate spikes 147% while price drops 15.86% in October

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. 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.