Ripple Mints $35M+ in RLUSD as Circulating Supply Nears $1.5B; Trading Volume Surges
Ripple’s US dollar–pegged stablecoin RLUSD saw a series of large mints over 48 hours, including a $35 million issuance overnight, bringing new issuance to roughly $109 million in that window. CoinMarketCap lists RLUSD’s circulating supply near $1.49 billion and 24‑hour volume between ~$259 million and over $363 million across trackers, outpacing several rivals such as PYUSD and USDG. On‑chain activity was linked to a treasury address (starting 0xfbca8b5f) and flagged by the Ripple Stablecoin Tracker; other reporting attributes earlier large mints to Ripple’s recently launched Ripple Treasury after its GTreasury acquisition. Analysts say the fresh supply is likely intended for exchange liquidity, OTC settlement rails, structured reissuance/redemptions, or rebalancing funds across venues to meet transfer demand without draining hot wallets. RLUSD’s January listing on major exchanges (including Binance pairs RLUSD/USDT and XRP/RLUSD) has increased tradability and liquidity, turning the token into both a settlement instrument and a tradable counterparty. The rapid, repeated minting pattern suggests Ripple is scaling RLUSD operations for institutional real‑time settlement use cases (3–5 second cross‑border transfers), which could increase on‑chain flows and institutional demand even amid broader market volatility.
Bullish
The news is bullish for RLUSD because increased minting tied to treasury operations, higher circulating supply and rising 24‑hour volumes signal growing utility and demand. Short term, newly minted supply allocated to exchanges or OTC rails improves liquidity, narrows spreads and supports higher trading activity—factors that can stabilize the peg and make RLUSD more attractive as a settlement and trading instrument. For traders, greater on‑chain flows and exchange listings increase arbitrage and market‑making opportunities. Longer term, the pattern of repeated large mints and integration with Ripple Treasury suggests deliberate scaling toward institutional settlement use cases; if adoption rises, RLUSD could see sustained demand which supports market depth and reduces volatility relative to smaller stablecoins. Risks remain—excessive issuance without matching demand can pressure the peg, and concentration of treasury-held supply or unclear redemption mechanics could create episodes of volatility—but current signals point to expanding liquidity and utility, which is typically price‑supportive for the stablecoin’s market functioning and trader confidence.