Explosive XRP burn unleashed: Lead Ripple dev reveals reasons behind it xrparmy xrpcommunity xrpl xrpledger xrpthestandart ripple ripplesec xrpburn $xrp
, a senior staff software engineer at Ripple, took to Twitter to clarify the cause behind this unexpected XRP burn spike. He attributed the reduction in supply to a series of account deletions on the XRP Ledger network, where each deletion resulted in the burning of two XRP tokens.
This is mostly the result of XRPL account deletions. Each account deletion burns 2 XRP. In June 2023, Poloniex alone deleted 85,566 old XRPL accounts which burned 171,132 XRP. They have finished deleting accounts.
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