Data sourced from the XRP Ledger clearly shows that, up to now, a total of 11.04 million XRP tokens have been burned. This consistency in burning XRP tokens aims at implementing a deflationary patters and the potential impact on its price growth has been the subject of debate in the crypto community. The underlying goal behind the XRP burn is to tackle spam transactions by collecting transaction fee and burning the collected sum. To make this approach become more effective as the value of XRP appreciates over time, the network's design diminishes the tokens burned as its value grows, as confirmed by Ripple's CTO David Schwartz. In official framework document on the XRP Ledger website, it is estimated that at the present burn rate, it would take 70,000 years to totally destroy all XRP tokens. That said, the deflationary effect of XRP's burn is considered to be relatively low. From a market perspective, there are mixed assessments on the impact of XRP burn rate to its price. Whereas some are of the opinion that this mechanism can prop up its value, others stress more on XRP's utility as a key factor influencing its price movements. That said, Ripple recently reported that its XRP-powered payments solution, RippleNet, has acted on more than 20 million transactions and swiped a total of about $30 billion since its launch. This testifies its ability to drive value in the global payments sector.



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