As October comes to an end, the destruction rate of XRP is on the rise, with an increase of 147%. According to data from XRPScan, on October 30th, 1,644 units of XRP were destroyed due to transaction fees.

This destruction activity reflects the deflationary mechanism of XRP Ledger: whenever transactions are processed on the network, a small amount of XRP is permanently removed.

Some blockchains have planned mechanisms for distributing tokens that are destroyed, but the destruction of XRP is automatically completed through transaction fees. Every transaction on XRP Ledger incurs a fee denominated in XRP, and this fee is then destroyed.

As of now, a total of 14,423,678 XRP have been destroyed, accounting for 0.014% of their total supply.

XRP Prices continue to decline

In the crypto community, October is often referred to as "_Uptober_" because it has historically performed better than other months, but this October, that title may need to be abandoned, as major cryptocurrencies, including XRP, have been declining this month. With only a few hours left in the month, _XRP_ has currently fallen by 15.86% and is on track to record its first monthly decline since July.

XRP rose by 30.11% in August and 7.91% in September respectively. Traders originally expected this upward trend to continue, but that did not happen, as concerns both within and outside the market collectively suppressed the crypto market.

The latest blow came from Binance being attacked by hackers, with $6.3 billion in customer assets stolen. As a positive development, Binance stated that they have recovered approximately 90% of the value of the cryptocurrencies stolen by the hackers earlier this week and plan to resume withdrawals on Sunday, which means that they are making progress towards fulfilling their commitment to compensate customers in full.

XRP performed well in the third quarter of 2026, and the official X account shared several key highlights. The scale of stablecoins on XRP Ledger increased by 25.2% to $1.03 billion; global net inflows of XRP ETP surged by 39.6% to $355.3 million. The volume of payments grew by 4.3% to 42.82 billion XRP; the trading volume of native DEX increased by 20.2% to $614.8 million. The value of decentralized tokenized RWA soared by 29.2% to $498.7 million, and investors of Aviva also jointly launched a tokenized fund with Bank of New York Mellon.