Something strange is happening with Ripple’s XRP. The network is showing clear signs of growth, yet the price keeps moving in the opposite direction. 

It’s the kind of situation that leaves investors confused, because usually, strong fundamentals and rising activity should push prices higher.

TheCryptoBasic shared on X that the XRP has dropped 27.3% since the start of the year and slipped another 2.9% in March. 

What makes this more surprising is that this decline is happening at a time when the XRP Ledger is becoming more active than it has been in months.

The XRP network is clearly seeing increased usage. On March 23, daily transactions hit 3.1 million, the first time in over a year the network has reached that level. More people are using it.

The activity per ledger has also jumped, from 83 on March 7 to 190 on March 23. That’s a big spike in a short time.

Plus, the number of AMM pools keeps growing, from 24,462 at the start of 2026 to 27,860 now. Everything shows the network is getting busier and more popular.

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Another major signal supporting XRP’s growth is the sudden spike in its burn rate. On March 19, there was a huge increase in the number of XRPs being burned, as around 1,851 XRPs were burned as fees, a huge increase from the usual average of around 500 XRPs that are typically burned since August 2025.

This increase in the number of XRPs being burned as fees means that more XRPs are being taken out of the circulating supply as the usage of the network continues to increase. In most cases, a reduction in supply is considered a bullish indicator, as this can result in a higher value for the token.

growing: +270% burn rate, 3.1M transactions, +3,398 AMM pools.

Price is falling. This is either undervaluation, or the market doesn't believe in monetization of activity. Calm before the storm or a problem

Despite all these positive signals, XRP’s price continues to decline, and that’s where the confusion comes in. The market doesn’t seem to be reacting to the growing activity on the network.

This is evident in a comment from Vega Finance, which states that “while the metrics are improving, maybe the market is not convinced that this activity will translate into value or revenue for the token.” 

This is essentially indicating that token usage alone may not be adequate in propelling the price upwards if there is no conviction on whether there will be any revenue or value created in the future.

Another comment from the community, from an individual known as XRPMaxi1965, indicates that something else is going on behind the scenes, which could be an attempt to suppress the price with the intention of pushing it upwards.

At this point, the situation can be seen in two different ways. On one side, XRP could be undervalued, with the price simply lagging behind strong fundamentals. On the other side, the market may be signaling that the current level of activity is not enough to justify a price increase.

What’s clear is that this gap between network growth and price action won’t last forever. Eventually, something will have to give. Either the XRP price catches up to the improving metrics, or the momentum in network activity slows down.

For now, XRP sits in a strange position, showing strength on-chain but weakness in price. That’s why many are starting to see this phase as a possible calm before a much bigger move.

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The post Bullish Metrics Can’t Save XRP? Burn Rate Soars, Transactions Peak, Yet XRP Price Bleeds appeared first on CaptainAltcoin.

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