Ripple minted 10 million RLUSD (Ripple USD) on the XRP Ledger on August 10, adding another large issuance to its regulated stablecoin ecosystem.
The transaction was recorded publicly on the XRP Ledger and quickly drew attention from the crypto community. However, the minting of 10 million RLUSD does not automatically mean that $10 million has entered the market or been used to purchase XRP.
RLUSD is Ripple’s dollar-backed stablecoin, and new tokens can be created for a variety of reasons, including treasury management, settlements, customer demand, or institutional operations. Ripple has not publicly disclosed the purpose behind this specific issuance.
According to market data, RLUSD currently has a market capitalization of around $1.53 billion. While that remains a significant figure, it is lower than the approximately $1.7 billion level Ripple reported earlier this year, following periods of both token issuance and token burns.
At the same time, analyst Ali Martinez shared data from Santiment showing that large XRP holders, often referred to as whales, accumulated more than 380 million XRP during the past week.
The accumulation has attracted attention because it occurred while XRP continued trading near the important $1 price level. Some market participants see the buying activity as a positive sign, although the data does not reveal the intentions behind the purchases or prove that whales are actively supporting the price.
Despite the reported accumulation, XRP has not yet shown a major price breakout. The token was trading near $1.03 on Monday, remaining close to the psychological $1 mark and posting only modest price movement.
Analysts also caution against linking the RLUSD mint directly to XRP price performance. While both operate within Ripple’s ecosystem, creating new RLUSD does not require equivalent purchases of XRP, and the two assets can function independently on the XRP Ledger.
Ripple continues to expand the institutional use of RLUSD, which is backed by cash and cash-equivalent reserves and is redeemable one-for-one for U.S. dollars. The stablecoin is also listed among the digital assets approved by New York regulators for issuance by regulated virtual currency entities.
For now, the confirmed developments are straightforward: Ripple has minted another 10 million RLUSD, large XRP wallets have increased their holdings, and XRP remains trading near the $1 level. Whether these developments lead to stronger price performance in the coming weeks remains uncertain.
