RLUSD supply on Ethereum has kept moving lower. The source says the stablecoin’s supply on Ethereum was above $727 million at the start of July, but the latest 30-day figures show a clear contraction: $369.4 million in RLUSD was burned while only $167.6 million was newly minted on the network.
Ethereum records redemptions well above new issuance
The shorter-term numbers point in the same direction. Over the last seven days, Ethereum saw $115.4 million in RLUSD burned and $49.3 million issued. On July 29 alone, burns reached $25.9 million, compared with $6.2 million in new minting. Across the latest 30-day window, total burns exceeded issuance by more than $200 million, showing a smaller RLUSD footprint on Ethereum.
XRP Ledger keeps a larger RLUSD base
Total RLUSD in circulation now stands at about $1.56 billion. On XRP Ledger, the past 30 days brought $324.1 million in newly minted RLUSD and $217.6 million in burns. That balance allowed XRP Ledger to keep a higher RLUSD supply than Ethereum. According to the source, RLUSD on XRP Ledger first moved ahead of Ethereum in June.
The expansion on XRP Ledger has been rapid. RLUSD circulating there was close to $20 million at the end of 2024, then climbed to nearly $800 million by late June 2026. The biggest growth phase was recorded in May and June 2026. Ripple, the US technology company behind payment infrastructure and digital asset products, issues RLUSD as a US dollar-backed stablecoin on both Ethereum and XRP Ledger.
Trading share rises as Ripple secures Luxembourg approval
RLUSD has also become one of the most actively traded tokenized assets on XRP Ledger. Its share of total on-chain transaction volume rose from under 1% in 2026 to almost 12%. The RLUSD/XRP pair alone posted about $900 million in transaction volume over the past six months.
This week, Ripple received authorization as a crypto asset service provider from Luxembourg’s financial regulator, the CSSF. The source says the approval shows compliance with MiCA and allows Ripple to offer XRP- and RLUSD-based solutions to financial institutions and corporations across all 30 countries in the European Economic Area.