Gemini Just Burned $128,000,000 RLUSD on XRPL, as Supply Drops to $189M
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Gemini redeemed and burned $128,000,000 of Ripple's RLUSD on the XRP Ledger on 2026-04-01, cutting circulating RLUSD supply to $189,000,000. The on-chain burn reflects a CEX-led redemption returning liquidity to Gemini, signals institutional crypto activity on XRPL, and the supply contraction is likely supportive for RLUSD peg and adoption while highlighting custodial centralization dynamics.
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Gemini has carried out a large redemption of Ripple's RLUSD stablecoin, burning $128 million worth of RLUSD on the XRP Ledger. The update came from Vet, an XRPL validator, who explained that Gemini redeemed the funds by burning RLUSD tokens to take back the liquidity it originally used to mint them with Ripple.
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