After trading very low, prices retreading the low levels seen in 2023. $XRP has seen a significant recovery in prices and a surge in network activity.
Amid the widespread resurgence of the crypto market, major cryptocurrencies have emerged, including: Bitcoin and $XRPindicating an unusual price increase over the past week. $XRP Burn rates also skyrocketed by more than 67% in just a few days.
According to data From on-chain analytics platform CryptoQuant, $XRP The amount burned in fees on the last day amounted to $939 $XRP Significant increase from 523 cases on February 6th $XRP This was recorded just about three days ago.
Following the rapid rise in prices, $XRP combustion metric, amount $XRP The deal came under fire after final-day fees soared to levels not seen since the start of 2026.
$XRP Abnormal prices will return
While there has been a significant increase in $XRP The main cause of the burn rate was the sudden change in investor sentiment seen across the crypto market, which caused significant price increases in major cryptocurrencies. $XRP The price has increased significantly over the past day.
Such, $XRP has seen an extraordinary resurgence in trading prices since the past two days, increasing by more than 15% each day. Although it seems that the momentum has already cooled down, $XRP At the time of writing, it was trading at $1.40, which is currently up 3.43% from the previous day, according to data from CoinMarketCap.
Due to the rapid rise in prices, $XRPincreased at the same time $XRP Burn metrics suggest that traders are no longer willing to sell and demand for the asset has surged over that period.
Despite the dramatic price recovery, $XRP It is still a long way from regaining the levels seen earlier this year. Therefore, market watchers are optimistic that asset prices may rise further due to increased network activity.