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14,083,391 XRP All-Time High: What’s Behind It?
XRP has reached a significant milestone with the total amount of burned XRP tokens reaching an all-time high of 14,083,391 XRP. This achievement comes as XRP price gains momentum, attracting attention from traders and investors in the cryptocurrency community.
The XRP burn mechanism is a fundamental component of the Ripple’s Ledger (XRPL) design. Each transaction on the network incurs a small fee, which is permanently destroyed or burned to combat spam and maintain the integrity of the network over time.
According to Santiment, the surge in XRP price coincides with an increase in network growth, including new wallets created, which may have contributed to this rise. In addition, retail interest has attracted investors to XRP.
Source: u.today
