Ripple Burns Another 10 Million RLUSD

Ripple has removed another 10 million RLUSD from circulation, marking the latest in a series of token burns that have reduced the supply of its U.S. dollar-backed stablecoin.

According to data from the Ripple Stablecoin Tracker, 10 million RLUSD were transferred on Tuesday from the RLUSD Treasury wallet to a null address, permanently removing the tokens from circulation.

The latest burn follows several similar operations over the past week. Ripple burned 10 million RLUSD on July 13, 10, 9, 8, 7, and 6, with two separate burns taking place on July 10. The most recent mint occurred on July 6, when 20 million RLUSD were issued into circulation.

The string of token burns has coincided with a decline in the stablecoin's market capitalization. Data from CoinGecko shows RLUSD is currently valued at approximately $1.52 billion. At the end of May, its market capitalization briefly reached around $1.9 billion, indicating that the circulating supply has fallen by roughly $380 million, or nearly 20%.

For fiat-backed stablecoins, issuing and burning tokens is a routine part of maintaining supply. New tokens are minted when institutional clients deposit U.S. dollars, while tokens are burned when users redeem RLUSD for cash. As a result, token burns alone should not be interpreted as a sign of weakening demand or declining interest in the project.