75% XRP Burn Rate Surge Prints Bullish Outlook for Price

Although XRP has continued to show mixed price action, recent onchain data from XRPScan shows that its network activity is growing. After a full week of slowed participation on the network, the data shows that the XRP burn activity has just witnessed a sharp increase over the last day. Over the last 24 hours, the amount of XRP burned through transaction fees has surged substantially from levels seen during the week. As of October 23, the data shows that a total of 1,114.97 XRP was burned as transaction fees, marking an increase of 27.5% from the 874.27 XRP burned the previous day.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to U.Today.