Ripple has burned $120 million worth of the Ripple stablecoin, $RLUSD, in a pattern that has remained consistent every end of the month.
Vet, a well-known XRPL validator, called attention to this event, which marked the second-largest intraday net $RLUSD burn in history. According to him, what typically follows is an equally large liquidity mint at the start of the following month.
Key Points
- Ripple recently burned $120 million worth of its stablecoin, $RLUSD, at the end of April 2026.
- This marked the second-largest intraday net $RLUSD burn event in history.
- The latest burn occurred on the $XRP Ledger, involving two separate transactions.
- What typically follows is a series of large $RLUSD liquidity mint transactions.
- After Ripple burned $179 million on March 31, it triggered a net mint of over $123 million in early April.
Ripple Burns $120M in $RLUSD on XRPL
The two burn transactions were indexed by a community-driven RippleUSD tracker developed by Vet. Specifically, at 15:46 UTC on April 30, Ripple burned $85 million worth of $RLUSD in a single transaction on the XRPL.
Hours later, the company initiated another burn transaction on the XRPL, incinerating 34.248 million $RLUSD tokens at 21:24 UTC on the same day. This brought the total figure to exactly $119.25 million worth of $RLUSD burned on April 30, the last day of the month.
With the latest transactions, the $RLUSD supply on the $XRP Ledger has drastically reduced. Specifically, $RLUSD now boasts a circulating supply of $1.444 million, with only $253 million, or 17.5%, hosted on the XRPL. The vast majority of the supply, about $1.191 million or 82.5%, sits on Ethereum.
Here’s What to Expect Next
However, Vet pointed out that what typically follows such large month-end burns is a series of equally large mint transactions at the start of the following month. This pattern has consistently played out throughout this year.
Specifically, on Dec. 31, 2025, Ripple burned $58 million in $RLUSD, and then minted $67.6 million on Jan. 2, 2026. Also, the company burned $93.2 million on Jan. 30 before minting $102 million on Feb. 2. The pattern played out again on Feb. 27, when Ripple burned $88.7 million in $RLUSD and then minted 88.7 million tokens on March 2.
For March, Ripple burned $179 million on the last day of the month, representing the largest intraday net burn in history. When April arrived, the company minted $123.6 million worth of $RLUSD during the first two days.
Notably, these burns typically occur on both Ethereum and the XRPL, but the latter has mostly accounted for the highest volume, followed by large mints. Considering the consistent trend, Vet believes another high-volume mint event could play out early this May.
Despite its reduced supply at press time, $RLUSD still holds a top 10 position among the largest stablecoins in the market, currently sitting eighth. However, the asset may need a $1 billion market cap growth from the current position to secure seventh.
