XRP's burn rate has declined, indicating a major drop in on-chain activity. According to XRPScan data, the amount of XRP burned as transaction fees fell from 3,323 XRP on June 2 to just 1,930 XRP on June 3, a 41% decline in 24 hours.
This decrease in burn rate comes as activity on the XRP Ledger has slowed significantly, with payment transactions falling to their lowest level since October.
According to data source XRPScan, the number of payment transactions, which represent the transfer of value from one account to another, has dropped to 320,747, the lowest since October and significantly lower than the average of over one million observed through March, April and early May.
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The drop in XRP burned as fees to multi-month lows has coincided with a slowing in new accounts. Account creators must deposit one XRP, which can be reclaimed after the account is deleted. However, the all-time high for XRP burned is 13,945,213, according to XRPscan.
XRP in spotlight
The slowdown follows an impressive first quarter, during which payment transactions increased by 36% quarterly, according to Messari data. Meanwhile, active addresses increased by 142%.
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In the first quarter of 2025, average total daily transactions climbed by 13% quarterly to 2.04 million. Also, as of the conclusion of Q1, almost 8 million total NFTs have been minted with the XLS-20 standard.
In a major milestone, the Dubai Financial Services Authority (DFSA) approved Ripple USD (RLUSD) stablecoin, allowing it to be used in the Dubai International Financial Centre (DIFC).
Eyes are on the XRP Ledger Apex 2025 event, scheduled to be held in Singapore from June 10 to 12, for XRP-related announcements.
