RLUSD Goes Up in Smoke: Ripple’s Week‑Long Token Inferno (No Marshmallows Required)

Ripple’s stablecoin treasury has turned into a pyromaniac, incinerating millions of $RLUSD in a matter of hours—talk about a hot‑pot market.

According to the Ripple Stablecoin Tracker, a 26 million $RLUSD burn hit the Ethereum ledger on Thursday afternoon, followed shortly by a 5 million burn. XRPScan then logged additional burns of 2.9 million and 1.9 million $RLUSD on the XRP Ledger, proving that the fire spreads faster than a meme on a Friday night.

The blaze didn’t start there. On March 26, a single burst erased 35 million tokens from circulation, all within a short window. These moves have slashed the stablecoin’s market cap from roughly $1.6 billion to the $1.4 billion range, a shrinkage that would make a diet‑focused DeFi project jealous.

Stablecoin issuers routinely mint and burn