Ripple minted 10 million RLUSD on the XRP Ledger on Aug. 10, while large XRP wallets added more than 380 million tokens over the preceding seven days. Available data, however, show no direct connection between the two events.

XRPScan recorded the issuance on the public ledger. The transaction created an additional 10 million RLUSD in Ripple's XRP Ledger treasury account, though it does not confirm that the tokens entered broader circulation. RLUSD, which Ripple launched in December 2024 as its entry into the stablecoin market, also operates on Ethereum, making issuance activity on a single ledger only a partial view of total supply movements.

💵💵💵💵💵💵💵 10,000,000 $RLUSD minted at RLUSD Treasury. — Ripple Stablecoin Tracker (@RL_Tracker) August 10, 2026

💵💵💵💵💵💵💵 10,000,000 $RLUSD minted at RLUSD Treasury.

Ripple Mint and Institutional RLUSD Operations

Ripple began offering Ripple Mint to its institutional clients on July 23. The platform enables eligible users to mint, redeem, bridge, and manage RLUSD through a web dashboard or API. According to Ripple, the service is designed for payment, trading, and treasury activities. The company has not linked the Aug. 10 RLUSD issuance to any specific customer action.

The ledger entry alone cannot be interpreted as a $10 million capital infusion for XRP. RLUSD can be issued and transferred independently of XRP purchases.

RWA.xyz data placed RLUSD's global market capitalization at approximately $1.53 billion on Aug. 10, 2026. That figure remained below the $1.7 billion level Ripple reported in June and had declined from a late-May peak of nearly $1.9 billion. Earlier token burns had reduced the supply by roughly 20% from that high. At roughly $1.53 billion, RLUSD remains a comparatively small participant in a global stablecoin market long dominated by Tether's USDT and Circle's USDC, each of which circulates in the tens of billions.

Standard Custody & Trust Company, a Ripple subsidiary operating as a limited-purpose trust company supervised by the New York Department of Financial Services, issues RLUSD. Ripple states that RLUSD is backed by U.S. dollars and other cash equivalents, with reserves held in segregated accounts. New York regulators list RLUSD among stablecoins approved for issuance in the state. Eligible Ripple users can redeem each token for one U.S. dollar, subject to the company's terms.

XRP Whale Balances Rise Near $1

Analyst Ali Martinez cited Santiment data indicating that large holders accumulated more than 380 million XRP during the prior week, a period when XRP was trading near $1.

3/5 Whales appear to be positioning for that possibility. Over the past week, large holders have accumulated more than 380 million XRP, an encouraging sign of conviction at current levels. pic.twitter.com/SRtgOiI2gh — Ali Charts (@alicharts) August 9, 2026

3/5 Whales appear to be positioning for that possibility. Over the past week, large holders have accumulated more than 380 million XRP, an encouraging sign of conviction at current levels. pic.twitter.com/SRtgOiI2gh

That figure is notably larger than the 70 million XRP whales accumulated in a single week in July. Changes in wallet holding data do not necessarily reveal holder intentions, and there is no indication of any coordinated purchase aimed at supporting the $1 price level. Martinez characterized the increase as a positive sign of conviction, though this reflects the analyst's opinion rather than a conclusion drawn from on-chain records. In crypto markets, whale accumulation data is widely used as a sentiment indicator, but on-chain balance shifts can reflect transfers between wallets, exchange movements, or custodial reshuffling rather than fresh purchases.

XRP was trading around $1.03 on Aug. 10, down 0.23% over the past 24 hours and 2.9% over the past seven days. The token traded within a range of approximately $1.03 to $1.05 during the day, with no clear breakout signals despite the increase in large-wallet holdings. The $1 level has historically served as a psychological reference point for XRP, a token that traded below one cent for most of its early years before reaching successive all-time highs during prior market cycles.

The RLUSD mint and the XRP whale accumulation remain separate developments within the broader Ripple ecosystem. Public records confirm both events, but neither establishes a direct cause for XRP's price direction.