 ▲ XRP / AI-generated image |
XRP is laying the groundwork for a price rebound by creating a strong supply reduction effect based on a sharp increase in daily token burns and improving on-chain indicators.
According to cryptocurrency media outlet U.Today on March 9 (local time), daily burn activity on the XRP Ledger surged 27%, simultaneously boosting network activity and enhancing asset scarcity. The amount of XRP burned over the past 24 hours significantly exceeded usual levels, fueling expectations among market participants that reduced token supply could drive prices higher. The increase in burns is interpreted as the result of rising network transaction fees combined with robust on-chain activity.
Data from on-chain analytics firm Santiment shows clear improvements in XRP’s network activity metrics. In particular, both new address creation and the number of active addresses have increased in tandem, signaling renewed vitality across the ecosystem. Experts note that the rise in burn volume is not merely a temporary phenomenon but could exert long-term deflationary pressure, contributing to an increase in the asset’s intrinsic value.
Analyst EGRAG CRYPTO maintained an optimistic outlook, noting that XRP’s current chart pattern resembles periods that preceded explosive rallies in the past. “Rising network usage alongside declining supply is the most powerful catalyst for price appreciation,” he emphasized. Recent accumulation by whale investors, coupled with increased burn volumes, has clearly strengthened downside support.
Amid heightened volatility in Bitcoin (BTC), XRP has secured independent on-chain momentum and appears poised to outperform the broader market. However, ongoing global macroeconomic uncertainty and fluctuating liquidity flows on major exchanges require close monitoring of key support levels. XRP is currently attempting to break above resistance, supported by a strong base in the low $1.30 range.
These positive indicators position XRP as one of the assets most likely to post steep gains in a future market rebound. Investors are closely watching the sustainability of daily burn data and upcoming developments related to network upgrades.
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