Ripple Suddenly Burns Millions Worth of RLUSD Stablecoin

Ripple’s U.S. dollar stablecoin, RLUSD, has just had another big contraction in supply after more than 2.71 million tokens were permanently burned at the treasury. The tracker shows that RLUSD was transferred to a null address on Ethereum on Sept. 9, which is the biggest single burn since late August.

This latest event follows a series of million-sized burns executed by Ripple in the past two weeks, including transactions of 1,000,000 RLUSD each on Sept. 3 and another identical burn on Aug. 29. The sequence has taken out almost six million tokens from circulation in just under two weeks.

For Ripple, these burns are just part of the standard issuance and redemption cycle for RLUSD. The company makes new stablecoins when demand goes up and redemptions are processed, and gets rid of extra supply through direct burns once dollars flow back into reserves.

🔥🔥🔥🔥🔥🔥 2,714,248 #RLUSD burned at RLUSD Treasury.https://t.co/IwILP59jH0

— Ripple Stablecoin Tracker (@RL_Tracker) September 9, 2025

Basically, it makes sure there is always the same amount of stablecoin as the fiat collateral, which helps keep its $1 peg steady.

Numbers behind Ripple USD

Market data shows RLUSD trading just at parity at $1, with a market capitalization of $728 million and a daily volume spike past $84 million, more than doubling compared to the previous day.

The token’s total supply is now 728.51 million RLUSD, which is pretty much the same as its circulating supply, showing that most of the units minted are still active on the market.

Liquidity is still spread across a mix of both centralized and decentralized venues. The bullish exchange is leading the way on RLUSD/USDC and XRP/RLUSD pairs, while Uniswap v3 and Curve are keeping things active with their stablecoin routes. Bitstamp and LMAX Digital also offer RLUSD for major fiat and crypto pairs, making it more accessible.

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