Ripple Torches Nine Million RLUSD as Race to Two Billion Supply Stalls - U.Today

Blockchain payment firm Ripple Labs has permanently removed nine million RLUSD stablecoins from circulation via burning. In the crypto space, burns send tokens to a dead wallet address, reducing the circulating supply forever.

Why nine million RLUSD burn?

Ripple Stablecoin Tracker, a community-run account that monitors and reports on-chain activity for RLUSD, shared the details of the latest burn

Per the details, Ripple permanently removed 9,000,000 RLUSD tokens from existence via its treasury wallet. This specific 9,000,000 RLUSD burn is one in a series of large treasury burns reported by the Ripple Stablecoin Tracker

In mid-March, Ripple destroyed 25,000,0000 RLUSD through burning, performed on the Ethereum blockchain. Before this burn, the blockchain payment firm removed 10,000,000 RLUSD from circulation, conducted on the XRP Ledger (XRPL).

For emphasis, burns are routine for regulated stablecoins like RLUSD. They occur during redemptions or for rebalancing, maintaining a perfect 1:1 backing for audits.

Additionally, Ripple manages supply surgically. The platform mints when demand spikes and burns when it cools, keeping reserves fully backed.

Two billion supply target

Since debuting in December 2024, RLUSD has seen substantial activity and market cap growth since launching. As of now, the stablecoin has a market cap of $1.5 billion and a trading volume of $113.8 million.

The Ripple community has consistently hyped the market cap growing to the $2 billion milestone. Some believe the target is achievable soon, citing integrations like Deutsche Bank, SBI Japan and high volumes.

However, aggressive burns like the nine million and larger ones in March 2026 slowed net growth. As such, supply stalled and even grew more slowly than expected, despite an earlier rapid trajectory.

Still, the latest burns signal healthy, active management and real redemptions and utility. It also shows institutional use rather than speculative hype.