Ripple, the San Francisco-based blockchain giant, has reactivated its Ripple USD (RLUSD) stablecoin operations following a two-day break. In the past twelve hours alone, Ripple minted and subsequently burned a substantial 54 million RLUSD tokens, reinforcing its commitment to stress-testing its latest offering.
54 Million RLUSD Minted and Burned
According to data from the Ripple Stablecoin Tracker (@RL_Tracker), Ripple conducted two major transactions involving RLUSD. First, the company minted two separate batches—12 million RLUSD and 15 million RLUSD. Then, it burned those same amounts by sending them to unspendable blockchain wallets, effectively removing the tokens from circulation.
The total volume involved in these transactions reached a significant 54 million RLUSD. Despite the token already being available on several prominent cryptocurrency exchanges, Ripple continues its trial processes.
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This ongoing activity suggests Ripple aims to ensure the stability and functionality of RLUSD before expanding its utility further. Previously, Ripple carried out a similar mint-and-burn cycle on April 23, involving 12 million RLUSD tokens.
Whale Alert Flags Large XRP Transfer
Meanwhile, Whale Alert, a well-known blockchain monitoring service, flagged a significant XRP transaction approximately 17 hours ago. According to its report, an anonymous wallet sent 29,532,534 XRP to Coinbase—the largest U.S.-based crypto exchange by trading volume.
This move initially sparked speculation among the XRP community, with some users suggesting a whale might be offloading XRP holdings. However, XRPscan data debunked these claims. It confirmed that Coinbase initiated the transaction itself.
Related article: Ripple Prioritizes Stablecoins and Tokenization Over Going Public
The exchange was merely redistributing its XRP holdings across internal wallets, clarifying that it was an internal reshuffling rather than an external sell-off. Ripple’s recent stablecoin activities indicate that the firm is methodically testing its RLUSD token despite its availability on major platforms.
Simultaneously, the XRP market remains dynamic, with large internal transfers from Coinbase showing ongoing liquidity management. These developments suggest that Ripple is refining its ecosystem while ensuring transparency and control over its token movements.
