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06/23 11:10
Ripple Slashes RLUSD Supply In Massive Burn Wave
A Record Burn Streak
Most of the destruction was concentrated between June 2 and 12, making it the longest intraday burn streak since RLUSD launched in December 2024. The single largest burn came on June 3, when $75.1 million was removed from circulation in a single day. The scale and duration of this episode stands apart from previous activity, which had typically involved shorter, more isolated burn events.
This is not the first time Ripple's supply management has drawn attention. In March 2026, Ripple's stablecoin treasury executed a massive string of token burns on Thursday, destroying over 35 million RLUSD in a matter of hours and sparking widespread speculation across the cryptocurrency community. That episode prompted crypto commentators to question whether the activity reflected routine liquidity management or something more significant.
How RLUSD Burns Work
Stablecoin issuers routinely mint and burn tokens to manage active supply and maintain their peg. When users or institutions redeem their RLUSD for underlying U.S. dollars, Ripple burns the corresponding digital tokens to keep the ledger balanced. In other words, a wave of burns at this scale most likely reflects institutional redemptions rather than any structural problem with the token.
Ripple USD (RLUSD) is designed to maintain a constant value of one US dollar. Natively issued on XRP Ledger and Ethereum blockchains, Ripple USD is fully backed by a segregated reserve of cash and cash equivalents and redeemable 1:1 for US dollars. The burn-and-mint mechanism is central to keeping that peg intact as market demand shifts.
RLUSD has grown quickly from a small base. It went from roughly $130 million in market cap about a year ago to around $1.78 billion as of late May 2026, ranking it among the larger regulated dollar tokens though still far behind USDT and USDC. The June burn wave, while large in absolute terms, should be read against that broader growth trajectory.
Whether the latest burn wave signals a temporary pullback in institutional demand, a rebalancing ahead of fresh minting, or simply normal redemption flow remains to be seen. Ripple has not issued a public comment on the specific activity tracked during the June period.
Sources
Ripple USD (RLUSD) Official Page, Ripple
Ripple Keeps Burning RLUSD. What's Happening?, U.Today
Ripple Launches New USD Stablecoin Globally, FinTech Magazine
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