- Ripple has minted more RLUSD as XRP surged nearly 19% in 24 hours, briefly reaching $1.24.
- Large RLUSD mints and burns highlight increased stablecoin activity as XRP posts strong weekly and monthly gains.
Ripple has minted another batch of RLUSD as XRP stages a sharp recovery, with the price climbing nearly 19% in 24 hours. XRP briefly reached $1.24 after rising from a session low near $1.03.
The latest RLUSD activity comes as Ripple continues to record large mints and burns across the XRP Ledger and Ethereum. At the same time, XRP has posted strong gains over the past week and month.
Ripple Mints More RLUSD
Ripple minted 900,000 RLUSD on the XRP Ledger on August 20, according to transaction data tracked by XRPScan. The latest issuance followed several larger RLUSD transactions recorded within the previous 24 hours.
The Ripple Stablecoin Tracker reported that 20 million RLUSD had been minted at the treasury about three hours earlier. Two additional 10 million RLUSD mints were also recorded around 11 hours earlier.
Activity continued with another 12 million RLUSD minted roughly 19 hours ago, followed by a larger 32 million RLUSD issuance about 23 hours ago.
However, RLUSD supply has not only been moving higher. The stablecoin has also seen several large burns during the same period, showing that Ripple is managing both issuance and redemptions.
The tracker reported a 15.4 million RLUSD burn at the treasury about an hour before the latest update. Another 20 million RLUSD was burned on Ethereum roughly three hours earlier.
This combination of large mints and burns points to active turnover in RLUSD supply rather than a simple increase in the amount circulating.
XRP Price Climbs Nearly 19%
While RLUSD activity remains high, XRP has delivered a much stronger price move.
XRP was trading around $1.22 at the time of writing, representing an 18.8% gain over 24 hours. The price climbed from about $1.03 to $1.24, marking a move of roughly 20% from the session low.
The rally also extends beyond the daily timeframe. XRP was up 21.2% over seven days, while its 30-day gain stood at 16.5%.
The move toward $1.24 places renewed attention on the $1.20 area after XRP recovered sharply from its daily low. Holding these higher levels could become important as traders assess whether the latest rally can continue.
Meanwhile, Ripple’s continued RLUSD activity shows that the stablecoin is experiencing substantial movement across both the XRP Ledger and Ethereum. With large mints and burns taking place alongside XRP’s sharp price increase, both assets are attracting attention across the broader crypto market.
ALSO READ: Chainlink Is Building Infrastructure for 24/7 Institutional Finance With CRE
DISCLAIMER:
The views and opinions expressed herein are solely those of the author or advertiser and do not necessarily reflect the views of the publisher. The publisher does not endorse or guarantee the accuracy of any information presented in this article. Readers are encouraged to conduct further research and consult additional sources before making any decisions based on the content provided.
About the Author
