Ripple USD stablecoin is starting June quietly, with $0 burned at May’s close. According to the Ripple USD tracker website, RL tracker, $0 RLUSD has been burned since June began. This trend was seen on May 30 when $0 RLUSD was burned.
The pause in RLUSD burning follows weeks of significant mint and burn activity, with May 20 marking the biggest mint event for RLUSD with $261 million minted. On this same day, $165.1 million RLUSD was burned.
On June 1 so far, $6.2 million RLUSD has been minted with this figure likely to increase as the day progresses. The temporary balance in burn and minting has seen RLUSD market capitalization stay slightly above $1.7 billion. The total supply, according to the RL tracker, is $1.704 billion.
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$613,271,598 of this supply is on the XRP Ledger, up over 80% from $340.3 million reported at the close of Q1 2026, according to Messari’s recent report. $1.09 billion of RLUSD supply sits on the Ethereum blockchain.
RLUSD burn engine goes quiet
According to data from the Ripple USD stablecoin tracker website, the last RLUSD burn occurred about 3 days ago.
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However, in the last 30 days, the total RLUSD burned surpassed that minted as Ripple embarked on RLUSD supply reduction.
A total of 304.4 million RLUSD was minted in the last 30 days, while total RLUSD burned came in at $396.8 million in the same timeframe.
RLUSD is integrated across Ripple’s financial products, providing immediate access for regulated institutional enterprise use in payments, treasury management, prime brokerage, and custody. This allows RLUSD supply to increase from real institutional demand rather than just CEX liquidity or unsustainable business development.
The majority of RLUSD holders were on the XRPL at Q1 2026 close. However, most RLUSD transfer volume took place on Ethereum.
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