Ripple Boosts RLUSD Mints on XRP Ledger to $60 Million

Ripple has significantly increased its minting of RLUSD on the XRP Ledger, deploying $30 million in just five hours. On August 17th, Ripple conducted two transactions: one at 03:21 UTC for $10 million and another at 08:56 UTC for $20 million. This is a notable increase in activity following a period of relative low minting.

Ripple's recent RLUSD mints on the XRP Ledger follow a similar pattern from August 14th, where the company deployed $30 million in two transactions within an hour. Since August 14th, Ripple has minted $60 million worth of RLUSD on the XRP Ledger.

Interestingly, while Ripple is increasing its RLUSD mints on the XRP Ledger, it has been burning RLUSD on Ethereum. On August 17th, Ripple burned $10 million in RLUSD on Ethereum at 03:19 UTC and another $5 million at 05:14 UTC. Despite this, Ethereum still holds a net increase of $203 million in RLUSD supply over the past 30 days.

The XRP Ledger has seen even more total minting over the same period but has been overshadowed by burn activity. Ripple has minted $409 million in RLUSD on the XRPL but burned $412 million, resulting in a net growth of - $3 million. However, the XRPL still holds more RLUSD than Ethereum, with $879.499 million in RLUSD sitting on the XRP Ledger and $851.518 million on Ethereum.