Ripple has continued its series of RLUSD treasury burns, removing another 10 million tokens from circulation on July 14. Blockchain data from the Ripple Stablecoin Tracker shows the tokens were sent to a null address, effectively destroying them. This latest burn follows a string of similar operations over the past week, including burns of 10 million RLUSD on July 13, two additional 10-million burns on July 10, and single burns on July 9, 8, 7, and 6.
The ongoing reduction contrasts with a 20 million RLUSD mint on July 6, highlighting the normal minting and burning cycle used to align the stablecoin's supply with institutional demand. As a result, RLUSD's market capitalization has fallen from a peak of around $1.9 billion in late May to approximately $1.52 billion, a contraction of about $380 million or 20%. Despite the supply decline, Ripple emphasized that treasury burns do not necessarily signal weakening adoption.
In parallel, Ripple continues to expand RLUSD's utility. The company recently joined the Linux Foundation's new organization to integrate stablecoin payments for AI agents, enabling autonomous machine-to-machine transactions via the XRP Ledger's x402 protocol. Additionally, Ripple's partnership with Hire Heroes USA, funded by an RLUSD donation, will provide $250,000 in grants to support veterans.
