Ripple Surges Amid RLUSD Stablecoin Activity
Ripple's RLUSD stablecoin has seen significant activity as XRP surges nearly 19% in value.
A batch of 900,000 RLUSD was minted on August 20, according to XRP Ledger transaction data from XRPScan. This follows larger issuances and burns in recent days, highlighting increased activity around Ripple's U.S. dollar-backed stablecoin.
The Ripple Stablecoin Tracker showed that a total of 82 million RLUSD was issued or burned over the past few days, with 20 million minted at the treasury several hours before the latest batch. Other transactions included two separate issuances of 10 million RLUSD each and an additional 12 million and 32 million RLUSD transactions.
Ripple's recent stablecoin activity has not been limited to new issuance, as large amounts of RLUSD have also been removed from circulation. A total of 35.4 million RLUSD was burned, with some of the largest burns occurring on Ethereum.