Ripple's stablecoin RLUSD is demonstrating a highly managed supply approach, with the company executing a significant burn followed by a targeted mint. According to RLUSD Tracker data, on March 8, 2026, 9.1 million RLUSD were permanently removed from circulation, likely as part of a reserve rebalancing effort. The very next day, March 9, the Ripple Treasury minted a new batch totaling 1,965 RLUSD.
This activity highlights Ripple's "liquidity-on-demand" model, which the company also employs with XRP. The approach is designed to prevent tokens from sitting idle in wallets. Each minting event effectively signifies that a specific large fund or exchange has requested the stablecoin, resulting in a supply with almost zero idle tokens.
Ripple's stablecoin currently holds eighth place among the largest dollar-backed stablecoins, with a market capitalization of $1.58 billion. In the global crypto ranking, this places it in 45th position. RLUSD's 24-hour trading volume stands at just under $100 million.
This precise supply management occurs within a strict regulatory environment following the adoption of the Genius Act in the United States. By burning nine million tokens, Ripple demonstrates to auditors that there is not a single excess or unbacked cent, verifying every cent under regulatory scrutiny.
Meanwhile, Ripple's native token, XRP, is testing key support near $1.35. The token is trading at approximately this level, maintaining a market cap of roughly $82.9 billion. Technical data indicates that roughly 66% of the circulating XRP supply is currently in an "unrealized loss" position, increasing selling pressure. Traders are closely watching whether the $1.35 support zone can hold, with buyers having defended this level multiple times over the last 48 hours.
This price movement coincides with a broader market shift in attention toward utility-driven DeFi platforms like Mutuum Finance (MUTM), which has raised over $20.7 million and is testing a lending protocol. The trend reflects investor exploration of projects with functional DeFi services rather than sentiment-driven tokens.
