{"id":569248,"date":"2024-01-12T16:00:08","date_gmt":"2024-01-12T16:00:08","guid":{"rendered":"https:\/\/ktsl888.com\/?p=569248"},"modified":"2024-06-11T08:48:59","modified_gmt":"2024-06-11T08:48:59","slug":"xrp-burn-major-milestone-1","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/ripple\/xrp-burn-major-milestone-1\/","title":{"rendered":"XRP Burn Hits Major Milestone, Can The Burns Propel Price To $1?"},"content":{"rendered":"

The total number of <\/span>XRP tokens<\/span><\/a> burned just recently hit a major milestone. This has raised questions as to how much impact <\/span>these burns<\/span><\/a> can have on the value of the XRP tokens in circulation. Interestingly, Ripple\u2019s CTO David Schwartz <\/span>recently made some comments<\/span><\/a> in this regard as he weighed in on whether or not XRP burns could affect the token\u2019s value.\u00a0<\/span><\/p>\n

12 Million XRP Now Wiped Out Of Circulation<\/h2>\n

Data<\/span><\/a> from the XRP Scan shows that just over <\/span>12 million XRP tokens<\/span><\/a> have now been burned and wiped out from circulation. This figure represents just 0.012% of <\/span>XRP\u2019s total available supply<\/span><\/a>, which now stands at over 99.9 billion. Considering the magnitude of tokens still available, it is hard to imagine that the tokens burned so far can have so much impact on the token\u2019s price.<\/span><\/p>\n

Related Reading: Crypto Analyst Reveals Why $0.087 Is A Key Profitable Level To Watch For Dogecoin<\/a><\/div>\n

It is also worth mentioning that the 12 million XRP burned so far is a cumulative total of all the tokens that have been wiped out from circulation since <\/span>they were premined<\/span><\/a>. As such, these tokens have been burned at separate times and not necessarily on a large scale. With this in mind, that could explain why the XRP community is calling for <\/span>burns of Ripple\u2019s XRP holdings<\/span><\/a>.\u00a0<\/span><\/p>\n

Ripple currently has over 40 billion XRP in escrow. Burning a significant portion of these tokens could have more effect on the token’s price than the 12 million burned so far. However, Ripple\u2019s CTO David Schwartz <\/span>doesn\u2019t believe<\/span><\/a> that this would yield \u201cany real benefits.\u201d He also alluded to how Stellar burning 55 billion XLM tokens in 2019 didn\u2019t have much impact on the token\u2019s price.\u00a0<\/span><\/p>\n

\"XRP<\/p>\n

Token price falls below $0.6 | Source: XRPUSD On Tradingview.com<\/a><\/pre>\n
Ripple\u2019s XRP Holdings Might Not Be The Problem<\/h2>\n
Talks about Ripple burning or at least disposing of a significant portion of their XRP holdings continue to spring up in the <\/span>XRP community<\/span><\/a>. This is because of accusations that the crypto firm is <\/span>responsible for XRP\u2019s stagnant price<\/span><\/a> based on the belief that they continue to dump their tokens on the market.\u00a0\u00a0\u00a0<\/span><\/p>\n
Related Reading: Shiba Inu Team\u2019s Record 9.35 Billion SHIB Burn Sends Burn Rate Soaring<\/a><\/div>\n
These allegations, however, seem unfounded, considering that <\/span>it has been reported<\/span><\/a> that Ripple\u2019s XRP sales do not have an impact on the token\u2019s price on crypto exchanges. If anything, the crypto firm somehow provides stability to the ecosystem as they are known to perform <\/span>buybacks at different periods<\/span><\/a>.\u00a0<\/span><\/p>\n
Ripple burning their escrowed tokens is also not an easy task, as Ripple\u2019s CTO seemed to suggest in his latest remarks. It has been <\/span>said in the past<\/span><\/a> that Ripple will likely need the approval of validators to carry out these burns.\u00a0<\/span><\/p>\n
A former Ripple Director had <\/span>previously mentioned<\/span><\/a> that Ripple could simply disable the master key on the destination account that receives these escrowed funds. However, there are no assurances that this could achieve the same purpose as the tokens being wiped out from circulation.\u00a0<\/span><\/p>\n
Featured image from Crypto News, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
The total number of XRP tokens burned just recently hit a major milestone. This has raised questions as to how much impact these burns can have on the value of the XRP tokens in circulation. Interestingly, Ripple\u2019s CTO David Schwartz recently made some comments in this regard as he weighed in on whether or not XRP burns could affect the token\u2019s value.\u00a0 12 Million XRP Now Wiped Out Of Circulation Data from the XRP Scan shows that just over 12 million XRP tokens have now been burned and wiped out from circulation. This figure represents just 0.012% of XRP\u2019s total available supply, which now stands at over 99.9 billion. Considering the magnitude of tokens still available, it is hard to imagine that the tokens burned so far can have so much impact on the token\u2019s price. Related Reading: Crypto Analyst Reveals Why $0.087 Is A Key Profitable Level To Watch For Dogecoin It is also worth mentioning that the 12 million XRP burned so far is a cumulative total of all the tokens that have been wiped out from circulation since they were premined. As such, these tokens have been burned at separate times and not necessarily on a large scale. With this in mind, that could explain why the XRP community is calling for burns of Ripple\u2019s XRP holdings.\u00a0 Ripple currently has over 40 billion XRP in escrow. Burning a significant portion of these tokens could have more effect on the token’s price than the 12 million burned so far. However, Ripple\u2019s CTO David Schwartz doesn\u2019t believe that this would yield \u201cany real benefits.\u201d He also alluded to how Stellar burning 55 billion XLM tokens in 2019 didn\u2019t have much impact on the token\u2019s price.\u00a0 Token price falls below $0.6 | Source: XRPUSD On Tradingview.com Ripple\u2019s XRP Holdings Might Not Be The Problem Talks about Ripple burning or at least disposing of a significant portion of their XRP holdings continue to spring up in the XRP community. This is because of accusations that the crypto firm is responsible for XRP\u2019s stagnant price based on the belief that they continue to dump their tokens on the market.\u00a0\u00a0\u00a0 Related Reading: Shiba Inu Team\u2019s Record 9.35 Billion SHIB Burn Sends Burn Rate Soaring These allegations, however, seem unfounded, considering that it has been reported that Ripple\u2019s XRP sales do not have an impact on the token\u2019s price on crypto exchanges. If anything, the crypto firm somehow provides stability to the ecosystem as they are known to perform buybacks at different periods.\u00a0 Ripple burning their escrowed tokens is also not an easy task, as Ripple\u2019s CTO seemed to suggest in his latest remarks. It has been said in the past that Ripple will likely need the approval of validators to carry out these burns.\u00a0 A former Ripple Director had previously mentioned that Ripple could simply disable the master key on the destination account that receives these escrowed funds. However, there are no assurances that this could achieve the same purpose as the tokens being wiped out from circulation.\u00a0 Featured image from Crypto News, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":569254,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16894],"tags":[3680,17209,4531,91167,84758,83637,13172,16289,10972,78763],"class_list":["post-569248","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ripple","tag-ripple","tag-ripple-news","tag-xrp","tag-xrp-blockchain","tag-xrp-ledger","tag-xrp-news","tag-xrp-price","tag-xrp-price-prediction","tag-xrpusd","tag-xrpusdt"],"acf":[],"yoast_head":"\nXRP Burn Hits Major Milestone, Can The Burns Propel Price To $1?<\/title>\n<meta name=\"description\" content=\"The total number of XRP tokens 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Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/ktsl888.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"XRP Burn Hits Major Milestone, Can The Burns Propel Price To $1?","url":"http:\/\/ktsl888.com\/news\/ripple\/xrp-burn-major-milestone-1\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/ripple\/xrp-burn-major-milestone-1\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/01\/XRP-Price-2.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/01\/XRP-Price-2.jpeg?fit=4933%2C3289"},"articleSection":"Ripple","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["ripple","ripple news","xrp","xrp blockchain","xrp ledger","xrp news","xrp price","xrp price prediction","xrpusd","xrpusdt"],"dateCreated":"2024-01-12T16:00:08Z","datePublished":"2024-01-12T16:00:08Z","dateModified":"2024-06-11T08:48:59Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"XRP Burn Hits Major Milestone, Can The Burns Propel Price To $1?\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/ripple\\\/xrp-burn-major-milestone-1\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/ripple\\\/xrp-burn-major-milestone-1\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/01\\\/XRP-Price-2.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/01\\\/XRP-Price-2.jpeg?fit=4933%2C3289\"},\"articleSection\":\"Ripple\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"ripple\",\"ripple news\",\"xrp\",\"xrp blockchain\",\"xrp ledger\",\"xrp news\",\"xrp price\",\"xrp price prediction\",\"xrpusd\",\"xrpusdt\"],\"dateCreated\":\"2024-01-12T16:00:08Z\",\"datePublished\":\"2024-01-12T16:00:08Z\",\"dateModified\":\"2024-06-11T08:48:59Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/01\/XRP-Price-2.jpeg?fit=4933%2C3289","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/569248","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=569248"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/569248\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/569254"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=569248"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=569248"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=569248"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}