Ripple has burned another 10 million RLUSD tokens, continuing a series of treasury transactions that have significantly reduced the stablecoin’s circulating supply over the past few weeks.
Blockchain data from July 14 showed the tokens being sent from the RLUSD Treasury to a null address, permanently removing them from circulation.
This is not an isolated event. Ripple has carried out multiple RLUSD burns in recent days, including burns on July 13, July 10, July 9, July 8, July 7, and July 6. The company also minted 20 million RLUSD on July 6, showing that supply is being actively adjusted as users redeem and acquire tokens.
As a result, RLUSD’s market capitalization has fallen to around $1.52 billion, down from nearly $1.9 billion in late May. That represents a decline of roughly 20% from its recent peak.
However, a falling stablecoin supply does not necessarily mean demand is weakening.
Unlike cryptocurrencies such as Bitcoin or XRP, fiat-backed stablecoins expand and contract based on user activity. When customers deposit dollars, new tokens are created. When they redeem those tokens for cash, the tokens are burned. In other words, burns simply reflect redeemed supply and do not automatically indicate lower adoption or reduced usage.
Since July 6, Ripple has reportedly burned at least 80 million RLUSD while minting 20 million during the same period. These movements highlight how quickly stablecoin supplies can change depending on market demand and redemption activity.
Ripple has not publicly explained who redeemed the tokens or whether the recent burns are linked to a specific customer or event. For now, the transactions appear to be part of normal treasury operations.
At the same time, Ripple continues expanding RLUSD’s role beyond traditional payments and trading.
The company recently joined the x402 Foundation as a Premier Member, supporting efforts to build blockchain-based payment systems for artificial intelligence applications. Through the x402 standard, AI agents could eventually use assets such as XRP and RLUSD to make automated payments without human involvement.
Ripple has also introduced new tools for developers. In June, the company launched the XRPL AI Starter Kit, designed to help developers create software agents capable of sending and receiving blockchain payments.
These initiatives position RLUSD as more than just a stablecoin for trading. Ripple is increasingly promoting it as a settlement asset for future machine-to-machine transactions and AI-powered payment systems.
Despite the recent supply reduction, RLUSD remains active across the XRP Ledger ecosystem.
According to data shared by Evernorth, RLUSD trading pairs have generated more than $2.5 billion in trading volume since launch. The RLUSD/XRP pair alone accounted for approximately $900 million in volume over the last six months.
Evernorth also reported that slightly more than half of RLUSD’s circulating supply was held on the XRP Ledger by late June, showing continued activity across trading and settlement markets.
Ripple has also continued building partnerships focused on payments and institutional adoption, helping expand the stablecoin’s use across different financial applications.
For now, the latest 10 million RLUSD burn represents another step in the recent reduction of circulating supply. The key question for the market is whether these burns are part of a short-term redemption cycle or the beginning of a longer period of lower supply.
While RLUSD remains below its May peak, Ripple continues investing in new use cases and payment infrastructure, suggesting the company is focused on long-term growth even as supply fluctuates in the short term.
