- Ripple has minted $10 million in RLUSD on the XRP Ledger as XRP whales accumulate more than 380 million coins.
- The activity comes as Ripple expands RLUSD for corporate payments while large investors defend the $1 XRP level.
Ripple has minted $10 million worth of RLUSD on the XRP Ledger as large XRP holders continue to increase their positions. The latest issuance highlights Ripple’s focus on using RLUSD for corporate payments and business transactions.
The $10 million RLUSD mint was recorded at the start of the week. At the same time, XRP whales accumulated more than 380 million XRP over the past week. The activity comes as XRP trades around the important $1 level. Large investors appear to be building positions while the market remains in a prolonged period of consolidation.
Ripple Adds $10 Million in RLUSD
According to on-chain data, Ripple issued $10 million in RLUSD on the XRP Ledger. The transaction was part of Ripple’s ongoing management of the stablecoin’s supply.
RLUSD is designed to serve business and institutional payment needs rather than compete directly with stablecoins used heavily in retail trading.
Ripple currently issues RLUSD selectively through its Ripple Mint platform. The service allows commercial companies to access the stablecoin for specific business use cases.
RLUSD had a market capitalization of about $1.52 billion at the time of the report. That figure remains around 20% below its May peak.
The latest mint therefore points to continued demand for RLUSD despite the decline from its previous market capitalization high.
XRP Whales Accumulate 380 Million Coins
The RLUSD issuance comes as whale activity around XRP increases.
Large holders accumulated more than 380 million XRP over the past week. The buying activity has drawn attention because XRP is trading around the psychologically important $1 level.
The $1 mark has become a key support zone for XRP. Large investors appear to be paying close attention to this level as they increase their holdings.
The whale accumulation adds another important factor to XRP’s current market setup. It could provide support if buying pressure continues to increase.
However, whale accumulation alone does not guarantee a sustained XRP recovery. Broader market conditions and overall buying pressure will still influence XRP’s next move.
Ripple and Tether Take Different Paths
Ripple’s latest RLUSD mint also highlights the different strategies used by major stablecoin issuers. Tether issued $1 billion in USDT on the Tron blockchain around the same time. Its treasury inventory on the network reached about $91 billion.
USDT serves a much broader retail trading market, where deep and readily available liquidity is important. RLUSD is taking a more targeted approach. Ripple is focusing on business-to-business payments and corporate use cases through its Ripple Mint platform.
The latest developments show how the two stablecoins are being positioned for different parts of the crypto market. For XRP, the combination of fresh RLUSD issuance and increased whale activity will remain important to watch. A sustained defense of the $1 level could help support XRP if buying pressure strengthens.
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