Since its launch, the XRP Ledger (XRPL) has burned over 11 million XRP tokens in an effort to tackle spam transactions, but opinions are divided on how effective these burns are in boosting XRP's value. The burn rate is erratic and the network is engineered to decrease the amount of XRP burned as the asset's value increases. While some argue that XRP burns may support the asset's price, others believe that XRP's utility is a major factor driving its price action. Furthermore, official documentation available on the XRP Ledger website states that at the current burn rate, it would take a minimum of 70,000 years to destroy all existing XRP tokens, making XRP "slightly deflationary."

(By ALBERT BROWN)