Ripple has burned another 10 million RLUSD, further shrinking the circulating supply of its dollar-backed stablecoin and continuing a flurry of treasury activity on the XRP Ledger.
Blockchain records on July 14 showed the tokens moved from the RLUSD Treasury to a null (burn) address, permanently removing them from circulation. This latest burn follows a sequence of reductions: 10 million on July 13; two 10-million burns on July 10; and single 10-million burns on July 9, 8, 7 and 6. (Ripple also minted 20 million RLUSD on July 6.) According to the Ripple Stablecoin Tracker, at least 80 million RLUSD have been burned since July 6 while 20 million were minted over the same span.
The practical effect: RLUSD’s market capitalization sits near $1.52 billion, about $380 million below its late‑May high of roughly $1.9 billion — a decline of about 20% from that peak. However, a shrinking stablecoin supply does not necessarily mean weaker adoption. Fiat-backed stablecoins expand when issuers mint against new dollar deposits and contract when holders redeem tokens for cash; burns typically reflect redeemed supply being taken off-chain rather than a direct measure of on-chain demand or user growth. Ripple has not attributed the recent burns to any single customer, market event, or strategic shift.
The quick swings highlight how rapidly stablecoin inventories can change when large holders redeem or issue tokens. They also come as Ripple pushes RLUSD into new use cases beyond trading and cross-border transfers. Ripple recently joined the x402 Foundation as a Premier Member after the open payment standard moved under the Linux Foundation. The initiative targets machine-to-machine payments, enabling AI agents to settle transactions on the XRP Ledger using assets like XRP and RLUSD.
Ripple has also rolled out developer-focused tools for AI payments: the XRPL AI Starter Kit, launched in June, lets builders create software agents that can send and receive payments, with RLUSD positioned as one settlement option.
Activity metrics show RLUSD remains active even amid the supply contraction. Evernorth reported more than $2.5 billion in XRPL trading volume tied to RLUSD since launch, including roughly $900 million in RLUSD/XRP volume over six months. By late June, the XRPL held slightly more than half of RLUSD’s circulating supply, though that distribution can shift as minting, burning and cross-chain transfers continue.
The takeaway: Ripple’s latest 10 million burn is another step in a volatile, closely watched treasury cycle. Markets will be watching whether the burn streak continues or if minting ramps up again as demand evolves — a key signal for whether the drop from May’s peak is a temporary redemption wave or a longer-term contraction.
Read more AI-generated news on: undefined/news
