XRP-Linked RLUSD Nears Record After $50M Ethereum Mint

XRP News

XRP (XRP), the native asset of Ripple’s ledger ecosystem, is facing a shifting stablecoin footprint after Ripple minted another 50 million RLUSD on Ethereum. Etherscan transaction data shows the latest issuance lifted total circulating RLUSD to $1,629,275,517, leaving the dollar token close to an internal record and nearly balanced across two chains. The split is now tight: XRP Ledger holds about $817,531,386, or 50.18%, while Ethereum holds about $811,744,131, or 49.82%, a gap of roughly $5.7 million. That narrows a divide that once favored Ripple’s native chain. Over the past 30 days, XRP Ledger saw $42.3 million more RLUSD burned than issued, while Ethereum balances rose by $173.4 million. The flow suggests enterprise users and DeFi participants are favoring ERC-20 rails, where dollar assets already circulate at scale. If the current minting pace continues, Ethereum could become the largest RLUSD venue within days. That would mark a notable shift for a token originally tied to Ripple’s own ledger. For the broader XRP ecosystem, the change raises a practical question: whether the ledger’s native token remains the primary liquidity asset for cross-border settlement, or whether a stable token is becoming the preferred settlement layer. Unlike experimental algorithmic stablecoins, RLUSD is positioned as a dollar-denominated payment token, and its Ethereum growth shows Ripple adapting distribution to existing market infrastructure.

XRP’s market action has turned defensive after the token briefly fell to $0.999 on Aug. 13, breaking below the psychologically important $1 level before stabilizing near the current area. Market-data signals point to thin liquidity as a central pressure, while fund-flow references to Bitcoin ETF outflows and selling tied to the Grayscale XRP Trust added to the weakness. The move matters because $1 has served as a simple reference point for both retail desks and algorithmic traders; once it was breached, risk controls likely tightened. With no immediate positive catalyst in sight, near-term performance appears tied to macro conditions, particularly whether future Federal Reserve rate cuts improve appetite for speculative assets. In this environment, some holders are looking beyond simple price appreciation. EX DeFi, a platform founded in 2021 that offers cloud-mining contracts, has drawn attention from users seeking yield during volatile stretches. Its materials frame contracts as cash-flow tools, with a $100 minimum deposit and automated settlement, rather than directional bets on token appreciation. That reflects a wider attempt by holders to monetize idle assets when spot demand weakens. Such products are often linked to ASIC mining economics, although users should distinguish passive contract claims from direct hardware ownership. The broader lesson is that even a major altcoin can enter a bear market phase where liquidity, not narrative, sets the pace.

Flare has opened a new derivatives route for XRP holders by making FXRP, its wrapped version of XRP, eligible as collateral on Derive for on-chain options and perpetual futures. The company’s announcement says users can mint FXRP through the FAssets system and deposit it without first sending assets to a centralized exchange. Within one Portfolio Margin V2 account, the same collateral can support hedging, options-premium strategies and directional trades. Derive’s XRP options are cash-settled in USDC, meaning profitable contracts at expiry receive the difference in stablecoin while FXRP remains posted as collateral; the underlying XRP does not move during settlement. Option sellers must maintain enough USDC to cover payouts and accept margin and liquidation risk. Derive co-founder Nick Forster argued that options infrastructure around XRP has lagged the asset’s market size, and that FXRP gives large holders a trusted on-chain entry point. Platform data tracked on-chain showed Derive recently led 30-day nominal options volume among monitored venues, with total value locked around $118 million. FXRP launched on Flare in September 2025, and issuance has exceeded 155 million tokens after an initial 5 million limit filled within four hours. The structure is more specialized than a simple atomic swap, because collateral stays active while cash settlement occurs separately.

COINOTAG’s proprietary 42-indicator composite S/R scoring engine shows XRP trading at $1.0038 with a bearish MACD and RSI at 35.62. The broader trend remains down, so rallies need confirmation. The $0.9999 support is rated 93/100, driven by Fibo 0.000 and Swing Low confluence, while the $1.0405 resistance scores 68/100 from Flip S→R and EMA 20. Derivatives aggregate data shows a 0.0040% funding rate, $748.7 million open interest and a 3.62 long/short ratio, implying crowded long positioning despite Fear & Greed at 29. A reclaim of $1.0405 could open $1.0911; failure to hold $0.9999 would invalidate the near-term support thesis and expose $0.8397.