XRPL RLUSD Supply Drops 29% While Trading Pools Hold Firm
Key Summary
Ledger data analyzed between Oct. 29 and Oct. 31, 2026, revealed that RLUSD supply on XRPL fell 28.7% to 707 million tokens according to DefiLlama metrics. However, a monitored XRP/RLUSD liquidity pool and specific order-book depths showed minimal reserve attrition, leaving the exact cause of the supply contraction unresolved.
Key Bullets
- XRPL reported RLUSD supply fell 28.7% to 707 million tokens over a single day according to DefiLlama tracking data.
- Sampled liquidity pool reserves for XRP/RLUSD slipped less than 1%, maintaining roughly 1.87 million XRP and 2.34 million RLUSD.
- Funded asks selling RLUSD for XRP increased to 112,162.55 RLUSD while buy-side offers contracted across the same observation window.
- Simultaneous Ethereum RLUSD supply reached 1.71 billion tokens, rising 5.73% while cross-chain migration remains unproven by on-chain ledgers.
Supply Plunges While Pools Stand Firm
Ripple stablecoin supply on XRPL fell almost 29% in a single day, but a sampled XRP/RLUSD trading pool did not lose a comparable share of its reserves. Ledger observations monitored between Oct. 29 and Oct. 31, 2026, showed the pool XRP balance slipped less than 1%, while its RLUSD balance actually increased slightly. DefiLlama data on Oct. 31 confirmed 707 million tokens circulating on XRPL, down 28.7% over the displayed one-day window. Pool liquidity held steady.
The pool still contained about 1.87 million XRP and 2.34 million RLUSD in the later observation. Automated market maker documentation explains that larger pools absorb trades with less exchange rate movement. Actual pool balances matter more to execution quality than stablecoin supply figures sitting elsewhere on the ledger. Traders faced stable execution depths.
Order Book Asks Move Opposite Bids
Funded RLUSD offers available to XRP sellers increased in captured order-book samples, while the opposing side remained depressed. NOSHASHI data showed funded asks selling RLUSD for XRP totaled 62,952.98 RLUSD at the Oct. 29 close. That figure climbed to 98,461.88 RLUSD at the Oct. 30 close, reaching 112,162.55 RLUSD by Oct. 31. Order books split in two.
Funded offers to buy RLUSD with XRP declined from 71,292.22 RLUSD to 40,870.63 RLUSD between daily closes. Those bids recovered to 59,593.01 RLUSD by the Oct. 31 sample, remaining below baseline levels. Captured quotes offered more inventory to an XRP seller. Sellers faced asymmetric depth.
Root Cause of Supply Drop Remains Unresolved
DefiLlama simultaneously showed Ethereum RLUSD supply near 1.71 billion tokens, up 5.73% over its displayed day. Opposing chain changes do not establish that identical funds migrated from XRPL to Ethereum. On the XRP Ledger, returning tokens to their issuer destroys them and reduces ledger obligations. Redemption mechanisms complicate tracking.
XRPL Dashboard net supply measures record obligation changes rather than gross mint and burn totals. Issuer transparency figures from Oct. 29 listed 2.627 billion circulating RLUSD and $2.759B in reserve funds. Those figures cannot be paired directly with Oct. 31 chain supply without transaction-level reconciliation. Data gaps obscure the shift.
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