XRP Burn Rate Plummets: What’s Driving the Decline?

The XRP burn rate has experienced a notable decline, signaling reduced activity on the XRP Ledger. According to XRPScan data, the amount of XRP used for transaction fees dropped from 3,323 XRP on June 2nd to just 1,930 XRP on June 3rd, representing a 41% decrease in just 24 hours. This trend coincides with a significant drop in payment transactions on the XRP Ledger, reaching their lowest point since October.