On-chain data from XRPScan shows that the XRP Ledger burned 1,114.97 XRP in transaction fees on October 23, a 27.5% increase from the 874.27 XRP burned the previous day. This marked the highest daily burn in over two weeks and came in roughly 38% above the network’s 30-day average of 808.1 XRP.
The XRP Ledger permanently destroys the XRP collected through transaction processing, meaning higher fee consumption gradually reduces circulating supply. Burn activity has fluctuated throughout October, with the month’s largest spike occurring on October 2, when more than 8,000 XRP was burned. The latest increase follows reports of growing wallet participation and expanding network usage, even as XRP’s price action remains mixed.
Although the daily burn remains small relative to XRP’s total supply, the uptick is seen as a bullish on-chain signal: it points to stronger transaction activity and reinforces the deflationary supply mechanism that may support demand over time.
