$XRP Ledger is seeing significant growth in its network performance as engagement continues to skyrocket to levels not seen this year.
The surge in network growth is most evident in the $XRP burn activity as the recent price rally fueled a significant surge in this metric.
$XRP burn rate hits 2026 high
Following the latest price rally that saw the Ripple-associated cryptocurrency record massive daily gains, the market resurgence has fueled an unusual increase in the $XRP burn activity as the metric surged by a massive 313% within just 24 hours.
Data provided by crypto analytics platform CryptoQuant shows that the amount of $XRP burned as fees has surged to 2,491 $XRP as of March 19.
While the ledger had recorded only 602 $XRP on March 18, this marks the highest daily surge recorded so far in 2026, while representing the highest level seen so far since the year began.
The metric, which is often fueled by surging investor demand, shows that $XRP is increasingly becoming scarce as it marks a sharp increase in the amount of the tokens permanently removed from circulation.
$XRP stalls around $1.44
Despite the surge in the amount of $XRP burned as fees, $XRP’s market performance showed signs of weakness during the same period.
Over the period, $XRP did not show any impressive increase in its price as its price has remained steady around $1.44 over the last 24 hours.
While it is only showing a mild increase of 0.06%, the divergence in the burn metric and $XRP’s trading price suggests that while on-chain activity may have increased, broader market sentiment or short-term trading pressure has slowed the token’s price.
