Gemini burned $128 million in RLUSD on XRPL on March 31 through two redemptions, cutting supply on the network to about $189 million. The onchain path was structured and sequential, with $79 million and $49 million transferred through intermediary addresses before being destroyed hours apart. Weekly burns reached $233.
Gemini burned $128M RLUSD on XRPL, cutting supply to $189M as Ripple minted 10M RLUSD on Ethereum after the March 31 redemption.
Ripple might be stepping into a whole new league, and this time, it's not just about crypto hype. In a recent conversation, Ripple President Monica Long laid out how the company plans to do it and why now might be the perfect time. From State License to Federal Ambition Ripple's stablecoin RLUSD didn't launch randomly.
Ripple's highly regulated RLUSD stablecoin has experienced a significant market cap reduction.
Ripple burned 128M RLUSD on March 31 in five quarter-end transactions, reflecting stablecoin redemptions and routine supply management, not distress.
SBI VC Trade is set to unleash RLUSD in Japan following its Ripple MOU.
A series of large transactions in Ripple's treasury was recorded at the end of March and, accordingly, Q1 of 2026. Within a few hours, a total of about 128 million RLUSD tokens were removed from circulation, equivalent to the same amount in U.S. dollars.