Ripple Hits 10M New RLUSD on XRP Ledger Amid September Slowdown

Ripple has minted 10 million RLUSD on the XRP Ledger, adding to its stablecoin supply. This comes despite a dip in activity in September.

The Ripple USD (RLUSD) stablecoin tracker shows that from September 1 to September 11, $143.1 million was minted on the XRP Ledger and $7.2 million was burned. However, other days in September saw significantly less RLUSD activity.

In fact, on September 10, no new RLUSD were minted, but $15 million were burned on Ethereum. On September 11, $528,000 RLUSD were minted on Ethereum, while $4 million were burned.

This slowdown in activity was not just limited to the XRP Ledger as there was also a decrease in RLUSD minting and burning on the Ethereum blockchain.