147% XRP Burn Rate Surge at 'Uptober' Close, but Price Stays Down

The XRP Ledger's deflationary mechanism burned 1,644 XRP as transaction fees on October 30, marking a 147% increase in burn rate. This automatic process permanently removes small amounts of XRP from circulation with each transaction processed on the network.

Despite this positive development for token scarcity, XRP's price has struggled in October, down 15.86% with hours remaining in the month. This would mark its first red month since July, following August and September gains of 30.11% and 7.91% respectively.

Market Pressure

Traders had expected the positive price momentum to continue into October, but market concerns have weighed on cryptocurrencies. The recent Binance hack, which saw $6.3 billion in client assets stolen, contributed to market uncertainty, though Binance has covered about 90% of the stolen value and plans to restore withdrawals by Sunday.

XRP had shown strong fundamentals in Q3 2026, with stablecoins on the XRP Ledger increasing by 25.2% to $1.03 billion, and XRP ETP net inflows jumping 39.6% to $355.3 million. Payment volume rose 4.3% to 42.82 billion XRP, while native DEX volume increased 20.2% to $614.8 million.

Token Supply Impact

To date, a total of 14,423,678 XRP has been burned, representing 0.014% of its total supply. Unlike some blockchains that have scheduled mechanisms to distribute burned tokens, XRP burns occur automatically through transaction fees, creating a continuous deflationary pressure on the token's supply.