Ripple has minted 10 million RLUSD on the XRP Ledger as large XRP holders reportedly accumulated more than 380 million XRP over the past week. The two developments highlight renewed activity across the Ripple ecosystem, although neither event by itself confirms fresh buying pressure for XRP.
- Ripple issued 10 million RLUSD on the XRP Ledger on August 10.
- RLUSD’s market capitalization remains around $1.5 billion, below Ripple’s previously reported $1.7 billion level.
- Large XRP holders reportedly accumulated more than 380 million XRP in one week.
- XRP remained close to the $1 psychological level, trading around $1.03.
Ripple Mints Another 10M RLUSD
Ripple issued 10 million RLUSD on the XRP Ledger in a transaction recorded by XRPScan.
The latest issuance adds to the supply of Ripple’s regulated dollar-backed stablecoin and comes as the company continues expanding RLUSD’s role across institutional payments and settlement infrastructure.
However, the mint should not automatically be interpreted as $10 million of new capital entering the crypto market.
Issuing RLUSD does not necessarily mean the tokens were immediately sold, deployed into XRP or distributed to external investors. Ripple’s institutional infrastructure allows approved customers to mint, redeem and manage RLUSD, meaning individual issuance transactions can also be related to treasury management or settlement activity.
Ripple has not publicly disclosed the customer behind this particular transaction or explained how the newly minted tokens will be used.
RLUSD Supply Remains Below Its Previous Peak
The latest mint comes while RLUSD’s overall supply remains below levels recorded earlier this year.
RWA.xyz data puts RLUSD’s market capitalization at approximately $1.53 billion, compared with the roughly $1.7 billion level Ripple reported in June.
RLUSD previously approached a market capitalization of approximately $1.9 billion before a series of token burns reduced its circulating supply.
That means Monday’s issuance is better viewed as part of an ongoing cycle of minting, transfers, redemptions and burns, rather than evidence of uninterrupted supply expansion.
Ripple introduced its institutional Ripple Mint platform in July, allowing approved customers to issue, redeem and manage RLUSD across supported networks.
XRP Whales Accumulate More Than 380M Tokens
Separate blockchain data provides another development for the Ripple ecosystem.
Data from Santiment, shared by analyst Ali Martinez, indicates that large XRP holders accumulated more than 380 million XRP over seven days.
The accumulation occurred while XRP remained close to the psychologically important $1 price level.
The increase has attracted attention because it represents a significantly larger accumulation event than the approximately 70 million XRP that whales reportedly purchased during one week in July.
However, the wallet data does not reveal why these addresses accumulated XRP.
The activity therefore should not automatically be interpreted as coordinated whale support for the $1 level.
Martinez described the accumulation as an encouraging sign of investor conviction, but that remains an interpretation of the onchain data rather than a confirmed explanation for the transactions.
XRP Has Yet to Confirm a Bullish Breakout
Despite the reported whale accumulation, XRP has not yet delivered a decisive bullish breakout.
The token was trading around $1.03 on August 10, remaining close to the $1 threshold after a period of relatively weak price performance.
That creates an important distinction between onchain accumulation and confirmed market momentum.
Large holders may be increasing their balances, but XRP still needs sustained spot demand and a decisive move above resistance levels to demonstrate that the accumulation is translating into broader market strength.
For now, the $1 area remains an important psychological level for traders.
RLUSD and XRP Are Connected, But Not Mechanically Linked
The simultaneous RLUSD mint and XRP whale accumulation could appear bullish at first glance, but the two events should not be treated as directly connected.
RLUSD can be issued and transferred using the XRP Ledger without requiring an equivalent purchase of XRP.
Likewise, institutions or large holders can accumulate XRP independently of RLUSD issuance.
The XRP Ledger provides the infrastructure for RLUSD, but stablecoin issuance does not mechanically create demand for XRP.
This distinction is important when evaluating Ripple’s growing stablecoin business alongside XRP’s market performance.
Ripple Continues Building RLUSD’s Institutional Position
Ripple says RLUSD is fully backed by segregated cash and cash-equivalent reserves and is redeemable on a one-to-one basis for U.S. dollars.
The stablecoin has also received regulatory recognition in New York, where the Department of Financial Services lists RLUSD among stablecoins approved for issuance by regulated virtual-currency entities.
That regulatory positioning is central to Ripple’s strategy of targeting institutions, payments companies and financial infrastructure providers.
As adoption expands, the key metric will be whether RLUSD’s supply and transaction activity grow consistently rather than simply seeing isolated large minting transactions.
What to Watch Next
For RLUSD, the immediate question is whether the newly minted 10 million tokens move into broader circulation or are subsequently redeemed or burned.
For XRP, the more important question is whether the reported 380 million-token whale accumulation translates into sustained market demand.
The latest developments show that activity across Ripple’s ecosystem is increasing, but they do not yet establish a direct bullish catalyst for XRP.
The confirmed picture is straightforward: Ripple minted 10 million RLUSD, RLUSD remains a roughly $1.5 billion stablecoin, and large XRP wallets have significantly increased their holdings. Whether those developments ultimately drive XRP higher remains to be seen.
