Ripple minted 15 million $RLUSD on Ethereum and then burned 10 million tokens at the RLUSD Treasury just hours later on July 30, according to data reported by the Ripple Stablecoin Tracker. T
Ripple minted 15 million $RLUSD on Ethereum and then burned 10 million tokens at the RLUSD Treasury just hours later on July 30, according to data reported by the Ripple Stablecoin Tracker. The back-to-back transactions are consistent with Ripple's ongoing practice of actively managing its stablecoin's circulating supply.
The July 30 activity fits into a broader trend of frequent treasury operations. Fiat-backed stablecoins such as RLUSD regularly undergo minting and burning operations to align circulating supply with customer demand. New tokens are minted when institutional customers deposit dollars, while tokens are burned when users redeem them for U.S. dollars. Treasury burns do not necessarily indicate weakening adoption.
Ripple has carried out repeated 10 million RLUSD burns in recent weeks, with circulating supply falling roughly 20% from its May peak, pushing market capitalization from about $1.9 billion down to approximately $1.52 billion.
As of the July 30 transactions, Ethereum's circulating RLUSD supply has climbed above $712 million, while the XRP Ledger continues to lead with approximately $873 million in circulation. The XRP Ledger's dominance in RLUSD holdings reflects a notable shift in distribution over the course of 2026. RLUSD circulation on the XRP Ledger surged 40-fold over six months, pushing its share of total RLUSD supply from approximately 17% to 52% by early July 2026.
RLUSD supply on the XRP Ledger passed Ethereum for the first time on June 26.Widening the window to two months, the XRP Ledger's RLUSD balance has more than doubled, up about 128% from 378.8 million in mid-May.
Ripple has also launched Ripple Mint to help institutions mint, redeem, bridge, and manage RLUSD, and added the stablecoin to Notabene Flow, the company's compliance-focused stablecoin payments platform. Notabene's network spans more than 2,300 connected institutions across 100-plus jurisdictions and 280-plus customers.
Sources:Ripple Burns Another 10 Million RLUSD – U.TodayRipple Burns Another 10M RLUSD as Supply Falls 20% from Peak – Crypto.newsRipple's RLUSD Flips to XRP Ledger Majority – Yahoo Finance
