Ripple has removed another 10 million RLUSD tokens from circulation as part of ongoing treasury operations that have significantly reduced the stablecoin’s supply in recent weeks.
RLUSD supply contracts further
On Tuesday, blockchain data verified by the Ripple Stablecoin Tracker showed that the RLUSD Treasury sent 10 million RLUSD to a null address. This transaction eliminated these tokens permanently from circulation, extending a series of similar burns executed over the past week.
These repeated burns have taken place on an almost daily basis. The tracker recorded other 10 million RLUSD burns on July 13, July 10 (twice), July 9, July 8, July 7, and July 6. The only recent mint occurred on July 6, when Ripple issued 20 million RLUSD tokens.
RLUSD’s circulating supply has now declined by about $380 million, or 20%, from its late May peak of approximately $1.9 billion, falling to a current market capitalization of around $1.52 billion, according to CoinGecko.
The ongoing burns have caused RLUSD’s outstanding supply to shrink, and this reduction is clearly visible in circulating market data.
| Date | Burn Amount (RLUSD) | Mint Amount (RLUSD) | Market Cap (approx.) |
|---|---|---|---|
| Late May | n/a | n/a | $1.9 billion |
| July 6 | 10 million | 20 million | $1.6 billion |
| July 7–13 | 10 million (daily) | 0 | $1.52 billion |
Stablecoin burns and demand
As with other fiat-backed stablecoins, RLUSD undergoes regular minting and burning to balance on-chain supply with user demand. New RLUSD tokens are issued when institutional clients deposit dollars, while tokens are destroyed when users redeem RLUSD for the underlying fiat currency.
A decrease in circulating supply is not always a sign of weakening adoption, as supply adjustments often reflect real changes in demand across user groups and market conditions.
Mini dictionary: RLUSD is Ripple’s U.S. dollar-backed stablecoin, designed for fast and efficient payments on blockchain networks, with supply managed through minting and burning operations linked to demand.
Ripple expands RLUSD’s ecosystem
Ripple, known for its enterprise blockchain solutions and the XRP Ledger, has continued to promote RLUSD’s integration in multiple sectors, despite the ongoing supply reductions.
Earlier today, Ripple joined the Linux Foundation’s new organization to help develop open standards for integrating stablecoin payments into AI agent ecosystems. Ripple explained that AI agents are already able to make payments using RLUSD via x402 on the XRP Ledger, advancing efforts towards autonomous machine-to-machine transactions.
Mini dictionary: x402 is a technical protocol on the XRP Ledger enabling direct payments between AI agents, allowing autonomous, peer-to-peer transfers without human intervention.
In another recent announcement, Ripple said that its Ripple Effect initiative, in partnership with Hire Heroes USA, will use funding from an RLUSD donation to issue $250,000 in grants. The program aims to support employment opportunities for veterans and military spouses through targeted financial assistance.
The company emphasized that recent supply contractions have not slowed RLUSD’s integration into real-world payment use cases, with both AI payments and social impact programs continuing to use the stablecoin.
