Ripple Mints More RLUSD as XRP Price Surges Nearly 19%

Ripple has minted another batch of its RLUSD stablecoin as XRP records a sharp price rally, climbing nearly 19% over the past 24 hours and briefly reaching $1.24.

According to XRP Ledger transaction data from XRPScan, Ripple minted 900,000 RLUSD on Aug. 20. The transaction follows a series of significantly larger RLUSD issuances and burns, highlighting increased activity surrounding Ripple’s U.S. dollar-backed stablecoin.

Data reported by the Ripple Stablecoin Tracker showed that 20 million RLUSD was minted at the treasury several hours earlier. Two separate transactions involving 10 million RLUSD each were also recorded approximately 11 hours earlier.

Additional issuance included a 12 million RLUSD mint roughly 19 hours earlier and another 32 million RLUSD transaction around 23 hours earlier.

However, Ripple’s recent stablecoin activity has not been limited to new issuance. Large amounts of RLUSD have also been removed from circulation. The tracker recorded a 15.4 million RLUSD treasury burn, while another 20 million RLUSD was burned on Ethereum several hours earlier.

The combination of RLUSD minting and burning suggests substantial turnover in the stablecoin’s circulating supply rather than straightforward supply expansion. Such transactions demonstrate the ongoing management of RLUSD liquidity as activity around Ripple’s stablecoin continues to develop.

Meanwhile, XRP has emerged as one of the stronger performers in the crypto market. The XRP price was trading near $1.22 at the time of the reported market snapshot, representing an approximately 18.8% increase over 24 hours.

During the same period, XRP surged from a low of around $1.03 to a high of $1.24, equivalent to an increase of roughly 20% from the session bottom.

The rally also strengthened XRP’s broader performance. The cryptocurrency gained approximately 21.2% over seven days, while its 30-day increase reached 16.5%.

With XRP experiencing significant buying momentum and RLUSD recording heavy minting and redemption activity, Ripple’s ecosystem is drawing renewed attention from cryptocurrency market participants.