Ripple Mints 10M RLUSD on XRP Ledger in Latest Stablecoin Issuance

XRP News

Ripple, the payments company behind the XRP Ledger, has minted another 10 million RLUSD on the ledger, adding to a stablecoin supply that now exceeds $1.71 billion. On-chain data confirms the Aug. 17 transaction settled with a fee of 0.000405 XRP and used a two-signer multi-signature arrangement before the new tokens moved to an RLUSD destination account. RLUSD, Ripple's USD-denominated stablecoin launched in December 2024 and backed by fiat reserves rather than algorithmic stablecoin mechanisms, has expanded its circulating supply to roughly 1.711 billion tokens, with about $58 million in 24-hour trading volume, according to market data. The latest issuance was recorded as a normal ledger settlement, with the maximum transfer size set to 10 million RLUSD. The issuance follows a period of active distribution work: Ripple integrated RLUSD into Notabene's compliance-focused institutional payment flow in July, pairing its Ripple Payments product with Notabene's transaction approval and regulatory infrastructure. The stablecoin also entered the Japanese market in June after receiving approval from Japan's Financial Services Agency, with SBI VC Trade offering RLUSD to institutional and retail clients through its VCTRADE platform. That approval made RLUSD the first stablecoin treated under Japan's fourth category of electronic payment instruments. Partnerships with BiLira, Bitexen and Bitlo extended the token to institutional users in Turkey in the same month. The fresh mint brings the latest issuance batch to 10 million RLUSD and comes as Ripple continues to position the token for cross-border settlement rather than speculative trading.

XRP remains a closely watched altcoin, still defending the $1 line, but chart signals have turned defensive. The token traded around $1.0046 on Aug. 17, up 1.11% on the session after opening at $0.9935 and dipping to $0.9882. The run of daily closes above $1 had reached 635 sessions as of last week, a streak that began after the November 2024 rally that later pushed the coin to an all-time high near $3.65. Earlier in the week, XRP touched $0.9862, a level last seen just before that rally. The streak nearly snapped twice this month, with an exploit that drained roughly $200,000 through a bridge between TX Chain and the XRP Ledger briefly pushing XRP below $1 on Aug. 11 and Aug. 14 before buyers stepped back in before the close. The daily chart has already printed a death cross, with XRP's 50-day exponential moving average below its 200-day EMA; the weekly chart still holds a golden-cross structure, but the gap between the 50-week and 200-week EMA is closing. Weekly ADX reads 33.7, signaling a strong trend that is currently pointed lower for traders long the token. On the daily chart, ADX is 21.8, below the 25 threshold that signals real conviction. XRP has yet to reclaim the shallowest Fibonacci retracement at $1.0281; support now sits at $0.98, with deeper support at $0.9061, while overhead resistance clusters near the $1.0754-$1.0965 golden zone and at $1.1264, the 78.6% retracement. The broader market remains in a bear market, and macro catalysts have stalled: the Senate left for a five-week recess without voting on the Clarity Act, pushing the next realistic vote to Sept. 15, while the SEC pulled its own vote on crypto fundraising rules, citing a scheduling issue. Whales accumulated roughly 380 million XRP near $1 over the past week, but that buying ran alongside $1.5 billion in fresh leveraged long positions, leaving the setup vulnerable to forced liquidation if the $1 handle breaks. Analysts have noted that Standard Chartered cut its 2026 XRP target from $8 to $2.80 in the first quarter.

Taken together, these data points describe an XRP ecosystem expanding its institutional plumbing while price momentum weakens. Ripple's repeated RLUSD issuance broadens the settlement layer and on-chain supply, yet the same ledger shows XRP struggling to defend the level that defined its post-2024 range. The on-chain record anchors both narratives: it confirms the fresh mint, the $1.71 billion circulation, and the 635-day close streak logged by price data. For COINOTAG, the arc is clear: stablecoin infrastructure is widening XRP's use case, but the technical setup argues for caution until XRP reclaims $1.0281. The market is not pricing stablecoin expansion into XRP's chart, leaving the token's fate tied to $1 support and the leveraged positions beneath it.