Ripple Releases Two Significant Stablecoin Reserves Destroys 100 RLUSD Prior to Stablecoin Debut

In a recent update on X, the account known as ‘Ripple Stablecoin Tracker’ disclosed that Ripple has introduced two significant reserves of its RLUSD stablecoin, which has been under testing since August. Although this new asset is still in its experimental stage, Ripple continues to issue and burn RLUSD tokens.

**Ripple Issues 970 RLUSD, Burns 100 RLUSD**

In just the last eight hours, Ripple issued two batches of stablecoins, each containing 485 RLUSD. These represent the largest individual RLUSD allocations minted since the project began its trial run in August. Additionally, two smaller batches, each with 50 RLUSD, were burned at the RLUSD Treasury. The process of burning coins typically involves locking them in wallets that are inaccessible for future withdrawals or spending.

Ripple is gearing up to launch its own stablecoin, pegged to the US dollar at a 1:1 ratio. RLUSD will be available on both the XRP Ledger and the Ethereum blockchain. Currently, the stablecoin market is valued at over $2 trillion, and Ripple aims to capture a significant portion of this rapidly expanding sector.

**Ripple Moves 200 Million XRP to an Anonymous Wallet**

In another notable development, blockchain tracker Whale Alert recently reported via X that Ripple transferred an astonishing 200,000,000 XRP to an unidentified blockchain wallet. This move has piqued the interest of the extensive XRP community, prompting many to express their excitement and confusion in the comments section. While some speculated that this could indicate a settlement, others viewed it as a potentially bullish sign for XRP.

However, the XRP-focused explorer Bithomp suggests that this large XRP transfer was made to a wallet associated with Ripple. This kind of transaction is not unusual for the company, as it often reallocates funds for external payments or plans to sell XRP on cryptocurrency exchanges.

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Ripple (XRP)