Ripple Mints 10 Million RLUSD as Whales Accumulate XRP

The 10 million RLUSD mint, recorded on-chain by XRPScan, arrives as the stablecoin’s market capitalization hovers near $1.53 billion. This figure remains below the $1.7 billion peak reported in June, following a series of token burns earlier this summer. Because Ripple’s institutional platform allows approved customers to manage issuance and redemption autonomously, this transaction does not necessarily signal a fresh capital injection into the market. Ripple has not identified the specific customer behind this mint, nor has it disclosed the intended use for the new assets.

Simultaneously, data from Santiment, highlighted by analyst Ali Martinez, points to a notable accumulation phase among large XRP holders. The reported addition of 380 million tokens represents a significant increase compared to July buying patterns. Despite this activity, XRP has struggled to sustain upward momentum, trading near the $1.03 level on Monday. Market observers caution that while the accumulation indicates growing conviction among whales, it does not function as a mechanical catalyst for price growth. The disconnect between Ripple’s expanding infrastructure and XRP’s price performance has remained a defining feature of the ecosystem throughout 2026.