Ripple Mints Millions in RLUSD as XRP Price Explodes 19% Toward $1.24

In Brief:

• Ripple minted millions of RLUSD across several transactions, while substantial token burns showed considerable supply turnover across its supported blockchain networks.
• XRP gained nearly 19% within 24 hours, climbing from approximately $1.03 and reaching an intraday peak around the $1.24 level.
• XRP also recorded 21.2% weekly gains and 16.5% monthly growth, extending its broader recovery beyond the latest trading session.

 

Ripple has minted millions of RLUSD across several transactions as XRP gained nearly 19% and climbed toward the $1.24 level. The stablecoin transactions included several large issuances, although substantial burns also reduced the amount added to RLUSD’s circulating supply.

Meanwhile, XRP traded around $1.22, representing an 18.8% increase over 24 hours based on the supplied market data. Ripple minted 900,000 RLUSD through a transaction recorded on the XRP Ledger on August 20, XRPScan data shows.

That transaction formed part of considerably larger treasury activity involving tens of millions of RLUSD across multiple transactions. Ripple Stablecoin Tracker recorded a separate 20 million RLUSD mint at the treasury several hours earlier.

Additionally, two other transactions created 10 million RLUSD each, adding another 20 million tokens to the reported issuance activity. Another transaction involved 12 million RLUSD, while a larger issuance created an additional 32 million tokens.

Also Read: Ethereum Rally Adds $2.2 Billion to BitMine Holdings as ETH Breaks Above $2,200

Ripple Records Major RLUSD Mints and Burns

Despite the substantial issuance, Ripple’s treasury activity also included large RLUSD burns across the stablecoin’s supported blockchain networks. Ripple Stablecoin Tracker recorded a 15.4 million RLUSD treasury burn alongside the multiple minting transactions.

Moreover, another transaction removed 20 million RLUSD from circulation on Ethereum during the period. Consequently, the combination of issuance and burns points toward substantial supply turnover rather than straightforward RLUSD supply expansion.

The transactions highlight how RLUSD supply can change as tokens enter circulation or return for redemption. Significantly, RLUSD operates across both Ethereum and the XRP Ledger, allowing supply activity to occur across separate networks.

XRP Price Surges Toward $1.24

XRP recorded substantial gains alongside the RLUSD activity, climbing from approximately $1.03 to an intraday peak near $1.24. That movement represented roughly 20% growth from the lowest price recorded during the trading session.

At around $1.22, XRP maintained most of its gains and remained close to the session’s highest level. Additionally, XRP gained approximately 21.2% over seven days, extending its performance beyond the latest daily price movement.

Its 30-day gain reached approximately 16.5%, showing broader improvement across the longer trading period. However, the RLUSD transactions and XRP rally represent different developments despite occurring within Ripple’s broader ecosystem.

RLUSD activity reflects changing issuance and redemption flows, while XRP’s rally reflects stronger demand across cryptocurrency markets. Ripple’s substantial RLUSD treasury movements therefore coincide with XRP approaching $1.24 during one of the token’s strongest daily performances.

Also Read: XRP News: Banking Giant Morgan Stanley Discloses XRP Holdings in New Filing – Here’s How Much

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