Ripple Mints $449M Stablecoin on XRP Ledger - Then Burns 99% of It
TL;DR
- Ripple issued $449.3 million in RLUSD on the XRP Ledger over 30 days, but burned $448.9 million in the same period.
- The 99% burn rate reflects high-turnover institutional use: tokens are minted for settlements and redeemed almost immediately.
- RLUSD’s total circulating supply reaches $1.757 billion, distributed nearly equally between XRPL and Ethereum.
Over the past 30 days, Ripple minted $449.3 million in RLUSD tokens directly on the XRP Ledger, its native blockchain. However, the volume of tokens burned during that same period reached $448.9 million, pushing the monthly burn rate to 99%.
The latest trigger was the elimination of an additional $35.7 million in RLUSD from the XRP Ledger, an operation that sealed a dynamic that, far from being anomalous, reveals the stablecoin’s actual operational model on this network.
Ripple: Institutional Transit Corridor
Ripple’s behavior around the XRP Ledger follows a specific pattern: tokens are minted for real-time institutional settlements and burned immediately when the client redeems their position for fiat currency. This turns XRPL into a high-speed transit corridor, where net supply growth is practically zero. The infrastructure is not designed to retain liquidity, but to process instant conversions with minimal friction.
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