the paschal candle
If you are referring to the Sanctuary Lamp, it is extinguished after the Mass of the Lord's Supper on Holy Thursday and not lit again until the Vigil Mass on Holy Saturday. This is done in all Catholic churches around the world. So, the candle does not burn on Good Friday and most of Holy Saturday.
the Paschal candle
The candle is called the Paschal candle. It is sometimes referred to as the "Easter candle."
The melted wax from a lit candle is typically referred to as "candle drippings."
In Judaism, it depends on the reason for the candle. Candles are used on Shabbat, Motza'ei Shabbat, Holy Days, Yahrzeits, and Hanukkah, all for different reasons.
If you mean lit as in "He lit the candle", then the preset tense for lit is Light. "I am lighting the candle."
A paschal candle is lit
The candle traditionally lit on the second Sunday of Advent is the Bethlehem candle.
Both "The candle is lighted" and "The candle is lit" are correct ways to convey that the candle is currently giving off light. "Lit" is more commonly used in spoken English.
This is lit.
Paschal candle.
Traditionally, the center candle is lit first, symbolizing the presence of the divine or unity. Then the other candles may be lit from the center candle, representing spreading light and connection.