【Cloudbet】Ripple’s Activity Spike Features 54,000,000 RLUSD, Here’s What Happened

Blockchain behemoth Ripple keeps minting and Cloudbetburning RLUSD Advertisement

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• 54 million RLUSD burned and minted
• $65,353,715 in XRP anonymously go to Coinbase

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Cryptocurrency juggernaut Ripple, San-Francisco-based, has resumed activities with its recently launched product – Ripple USD (RLUSD) stablecoin. After a two-day break, it has minted and also burned more RLUSD tokens. A massive amount of RLUSD has been involved here over the past 12 hours.

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54 million RLUSD burned and minted

Data shared by the Ripple Stablecoin Tracker (@RL_Tracker) account reveals that after a two-day pause, the Ripple behemoth has resumed issuing its dollar-pegged USD stablecoin.

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Roughly 12 hours ago, two chunks of RLUSD were minted and then incinerated by being transferred to unspendable blockchain wallets: 12,000,000 RLUSD and 15,000,000 RLUSD were issued and the same two chunks were burned afterwards, making it 54,000,000 RLUSD in total.

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💵💵💵💵💵💵💵 15,000,000 #RLUSD minted at RLUSD Treasury.https://t.co/lpG0xIImQQ

— Ripple Stablecoin Tracker (@RL_Tracker) April 24, 2025

It seems that Ripple continues testing its new product despite the fact that it has already been listed by several large cryptocurrency exchanges and is already circulating on the market.

Before today, the most recent mint and burn took place on April 23, when Ripple issued and also burned 12,000,000 RLUSD.

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$65,353,715 in XRP anonymously go to Coinbase

Prominent blockchain tracker Whale Alert, which monitors large cryptocurrency transfers and shares their details on its website and X profile, has informed the XRP community about a massive transaction that took place roughly 17 hours ago.

🚨 🚨 🚨 29,532,534 #XRP (65,353,715 USD) transferred from unknown wallet to #Coinbasehttps://t.co/kOcM8E9cSd

— Whale Alert (@whale_alert) April 24, 2025

According to the post published by this data source, an anonymous wallet owner transferred 29,532,534 XRP to the largest U.S.-based crypto exchange by trading volume – Coinbase.

Some crypto enthusiasts stated in the comments that this was most likely a whale selling XRP. However, data shared by XRPscan refuted that assumption. According to it, this transaction was initiated by Coinbase itself, which makes this an internal transfer as Coinbase was reshuffling its XRP holdings, spreading them among its own wallets.