Update
XRP Burn Rate Surges 147%
XRP's burn rate has surged by 147% as of October 30, burning 1,644 XRP. This represents 0.014% of its total supply. Despite the increase, XRP's price remains down for the month, with a 15.86% decline so far. The XRP Ledger's deflationary mechanism, which permanently removes XRP from circulation through transaction fees, is the cause of the burn activity. Binance has covered about 90% of the $6.3 billion stolen from client assets in a recent heist, with plans to restore withdrawals by Sunday.