i have a ponytail palm that seems to be doing very well, except for the tips of the leaves. They are either burnt out or "crispy". My question is why? Too much water? Too much Sun? He is not in direct light and as for water it seems to drink pretty heavily. I have him on a water tray full of gravel and it dries up every 2/3 days. Is the plant drinking it up or is it that dry in the house. Any comment or help would be great. Thanks

This primarily reads as if it might be a humidity issue.

There are a few things I would try:
Misting the leaves every couple of days. Typiclly palms like a little humidity. You've taken a great step in placing it in a pebble tray and it is normal for the water to dry up every couple of days. However, this may not be enough.
Place another humidity loving plant in the same tray.
Check growing conditions: what is the humidity in your house?
Where is the location of the plant? Remove from direct sun.
What part of the country do you live in and are you adjusting the environment to suit to the palm?
How old is the plant and how long ago was it repotted? Some plants have crispy tips because they are not getting enough food. Bear that in mind as well.

I hope some of this helps.
D.