Ripple minted 10 million RLUSD on the XRP Ledger on Aug. 10 while Santiment data showed large XRP holders adding more than 380 million tokens over the past week. XRP itself traded near $1.03, showing no confirmed breakout despite the activity. The two developments happened separately, and nothing links the stablecoin mint to the whale buying.
Ripple minted 10 million Ripple USD on the XRP Ledger on Aug. 10, a transaction recorded by XRPScan the same day. Separately, Santiment data shared by analyst Ali Martinez showed large XRP holders adding more than 380 million tokens over the previous week. The two events occurred around the same period, but there is no evidence the mint caused the accumulation or that the whales were responding to it.
RLUSD supply still below its June level
The mint adds to RLUSD's issuance on XRPL, but the transaction alone does not show that $10 million entered circulation or moved into XRP. Ripple's institutional platform lets approved customers mint, redeem and manage RLUSD, so issuance can reflect treasury and settlement activity rather than fresh buying. Ripple has not named the customer behind this mint or disclosed its intended use.
RWA.xyz data put RLUSD's market capitalization near $1.53 billion on Aug. 10, below the $1.7 billion level Ripple reported in June. The stablecoin had fallen roughly 20% from a late-May peak near $1.9 billion after Ripple burned tokens. Monday's mint therefore lands amid active issuance and redemption rather than steady supply growth. New York's Department of Financial Services continues to list RLUSD among stablecoins approved for issuance by regulated virtual currency entities.
Whale buying tops July's pace
The reported 380 million XRP added over the week is well above the 70 million XRP whales accumulated during one week in July, which coincided with declining exchange balances on Binance and a rebound above $1.11 at the time. Describing the current wallets as "defending" $1 remains an interpretation, not an onchain fact — the data show a balance change among large holders, not their motivation.
XRP has yet to confirm a breakout
XRP traded around $1.03 on Aug. 10, down roughly 0.4% over 24 hours and 2.8% over the week, with an intraday range of about $1.03 to $1.05. The token remained below levels seen in July even as institutional infrastructure around Ripple kept expanding.
That performance means the mint and the whale buying should not be treated as confirmed bullish catalysts. Ripple and XRP share the same ledger, but RLUSD issuance does not require matching XRP purchases — the stablecoin can move independently on XRPL infrastructure.
Ripple minted 10 million RLUSD on Aug. 10. RLUSD's supply sits near $1.5 billion. Large XRP wallets added to their holdings over the past week, but whether that accumulation turns into higher prices is still unproven.
Source: crypto.news
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