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Over 14 Million XRP Burned as Price Struggles Below Key Support Levels

The XRP Ledger (XRPL) has witnessed a major milestone: more than 14 million XRP tokens have been burned, permanently removing them from circulation. This significant burn event comes at a time when XRP's price has failed to maintain support above $2.10, dipping to $2.00 before stabilizing around $1.96, despite a slight intraday gain of +2.48% to $2.0244.

The data, provided by #XRPScan, also shows the network processed 5.1 million transactions within 24 hours without disruption—a strong indicator of the growing demand for XRPL's features such as low fees, rapid settlement times, and support for native tokenization.

One of the most impressive developments has been the explosion in user activity on the XRPL. The number of daily active addresses has surged to over 290,000, a dramatic increase from the 30,000–40,000 range observed just three months ago. Quarterly data shows a 142% rise in active wallets, and in March alone, the network saw a 620% spike in just one week.

This growing engagement is also being fueled by large holders (whales). Wallets holding at least 1 million XRP have now surpassed 2,700—a level historically linked with price rallies. Previously, such accumulation drove XRP to a 13% gain, pushing it toward the $2.40 resistance zone.

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Price Action and Market Structure

At present, XRP continues to trade below the critical $2.00 support level, reflecting a 2.2% drop over 24 hours, and further losses of 6.8% in the past week, 13% over the past 30 days, 16% in the last 90 days, and a 12% decline year-to-date.

Technical analysts believe XRP is in the midst of a 200-day consolidation phase, bounded between $1.90 and $2.90. This pattern resembles a symmetrical triangle, similar to the formation seen before the 2017 breakout.

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