According to recent data from Ripple Stablecoin Tracker, Ripple USD ($RLUSD) supply on the Ethereum network has shrunk to about $692 million as Ripple continues to adjust the stablecoin’s circulating supply through token burns.
At the start of July, $RLUSD supply on Ethereum was above $727 million; now this figure has decreased, with millions in Ripple USD burned on the Ethereum network in the last seven days.
$115.4 million was burned on the Ethereum blockchain in the last seven days as seen on the Ripple Stablecoin Tracker website, while $49.3 million was minted in the same timeframe. On July 29 alone, $25.9 million was burned on the Ethereum blockchain while $6.2 million in $RLUSD was minted.
The last 30 days saw significant $RLUSD redemptions on the Ethereum blockchain; a total of $369.4 million was burned while $167.6 million was minted.
On the $XRP Ledger, a total of $324.1 million was minted in the last 30 days and $217.6 million was burned. The total circulating supply of the $RLUSD stablecoin is currently $1.556 billion.
$RLUSD expands footprint on $XRP Ledger
With $RLUSD supply on Ethereum shrinking to $692 million, $XRP Ledger remains ahead, hosting more $RLUSD than Ethereum network. $RLUSD‘s footprint on $XRP has increased significantly, overtaking Ethereum supply for the first time in June.
$RLUSD in circulation on the $XRP Ledger grew from roughly $20 million at the end of 2024 to about $800 million by late June 2026, which is a 40-fold rise, with the largest increase occurring in May and June 2026.
Ripple USD is currently one of the most-traded issued assets on $XRP. Its share of all on-chain trading climbed from under 1% to about 12% in 2026, and the $RLUSD/$XRP pair alone has cleared roughly $900 million over the last six months.
This week, Ripple received authorization of its Crypto Asset Service Provider (CASP) license from Luxembourg’s Commission de Surveillance du Secteur Financier (CSSF). The authorization confirms Ripple as fully MiCA-compliant, with its solutions underpinned by $XRP and $RLUSD made available to financial institutions, corporates and businesses across all 30 countries of the European Economic Area.
