Ripple mints $10M RLUSD as XRP whales add 380M

Ripple minted 10 million Ripple USD on the XRP Ledger on Aug. 10, adding another large issuance transaction to its regulated stablecoin network.

Summary

• Ripple minted 10 million RLUSD on XRPL, according to the transaction recorded by XRPScan Monday.
• RWA.xyz shows RLUSD market capitalization near $1.53 billion, below Ripple's reported $1.7 billion June level.
• Santiment data shared by Ali Martinez showed whales accumulated more than 380 million XRP weekly.
• XRP traded near $1.03 Monday, remaining close to the psychologically important $1 level despite accumulation.
• New York regulators list RLUSD among stablecoins approved for issuance by regulated virtual currency entities.

The onchain transaction was recorded by XRPScan and tracked publicly shortly after execution.

The mint arrived as separate Santiment data shared by analyst Ali Martinez showed large XRP holders adding more than 380 million tokens during the previous week. The two developments occurred around the same period, but there is no evidence that the RLUSD issuance caused the whale accumulation or that the whales were responding to Ripple's mint.

RLUSD mint does not automatically mean $10M entered markets

Ripple's 10 million RLUSD transaction increases the amount of stablecoins issued on XRPL, but the transaction alone does not establish that $10 million immediately entered circulation, was deployed into XRP, or represented fresh market buying. Ripple's institutional platform allows approved customers to mint, redeem and manage RLUSD, meaning issuance can form part of treasury and settlement operations.

That distinction matters because describing the transaction as a $10 million "capital injection" into XRP would go beyond what the blockchain record proves. Ripple has not publicly identified a customer behind this specific issuance or disclosed its intended use. As crypto.news reported in recent platform launch coverage, Ripple Mint was introduced in July to give institutional customers direct tools for repeated RLUSD issuance, redemption and cross network management.

RLUSD's wider supply remains below levels recorded earlier this summer. RWA.xyz data showed a market capitalization of about $1.53 billion on Aug. 10. Ripple had said in June that the stablecoin had reached $1.7 billion, while crypto.news later reported a retreat toward $1.52 billion after a series of token burns.

In earlier supply contraction coverage, RLUSD had fallen roughly 20% from a late May peak near $1.9 billion after Ripple removed tokens from circulation. Monday's mint therefore comes against a backdrop of active issuance and redemption rather than uninterrupted supply growth.

XRP whales reportedly accumulated 380M tokens

Separately, Martinez shared Santiment data showing that a large holder cohort accumulated more than 380 million XRP over seven days. The increase came while XRP repeatedly traded close to the $1 psychological level. The reported accumulation lifted attention toward whether larger holders were rebuilding positions after months of weak price performance.

However, describing those wallets as actively "defending" $1 remains an interpretation rather than an onchain fact. The data show a change in balances attributed to large holders; they do not establish the holders' motivation or prove coordinated support for a particular price. Martinez described the activity as an "encouraging sign of conviction," but that remains his assessment.

The latest increase is considerably larger than the 70 million XRP accumulated by whales during one July week. As crypto.news reported in previous large holder coverage, those purchases coincided with declining XRP balances on Binance and a rebound above $1.11 at the time.

XRP price has yet to confirm a breakout

Despite the reported whale buying, XRP had not produced a strong immediate breakout by Aug. 10. Current market data placed the token around $1.03, down roughly 0.4% over 24 hours and 2.8% over seven days. Its intraday range was approximately $1.03 to $1.05.

That performance means the whale accumulation and RLUSD mint should not be presented as confirmed bullish catalysts for XRP. Ripple and XRP are connected through the XRP Ledger ecosystem, but RLUSD issuance does not mechanically require equivalent XRP purchases. The stablecoin can be minted and transferred independently while using XRPL infrastructure.

The latest activity also comes as Ripple continues expanding RLUSD's institutional role. The company says the stablecoin is fully backed by segregated cash and cash equivalent reserves and redeemable one for one for U.S. dollars. New York's Department of Financial Services continues to list RLUSD among stablecoins approved for issuance by regulated virtual currency entities.

What happens next for RLUSD and XRP

The next point to watch is whether the newly issued RLUSD moves from treasury accounts into wider circulation and whether aggregate supply rises materially from its current level. Ripple has not announced a schedule for future minting, and individual issuance transactions can be followed by transfers, redemptions or burns depending on institutional demand.

For XRP, the more immediate test remains the $1 area and whether the reported whale accumulation translates into sustained spot demand. The token remained below levels seen during July even as institutional infrastructure around Ripple continued expanding. In related market analysis, the disconnect between Ripple's business expansion and XRP's weaker price performance has persisted throughout 2026.

The confirmed developments are therefore narrower than some bullish interpretations suggest: Ripple minted 10 million RLUSD on XRPL, RLUSD remains a roughly $1.5 billion stablecoin, and Santiment data shared by Martinez show a sharp rise in holdings among large XRP wallets. Whether those trends ultimately translate into stronger XRP prices remains unproven.