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A fresh mint of $RLUSD on the $XRP Ledger has sparked discussion in the community about its potential impact on $XRP’s price.
This follows the minting of 150 million $RLUSD by a U.S. exchange over the past day, which some commentators expected to boost $XRP’s value. Meanwhile, a top XRPL validator says investors may be misunderstanding the effect of stablecoin minting on the $XRP blockchain.
Key Points
- Gemini minted 150M $RLUSD on XRPL, sparking debate over its impact on $XRP price.
- XRPL validator Vet says $RLUSD issuance does not create buying pressure for $XRP.
- $RLUSD acts as a liquidity on-ramp, aiding transactions and network adoption, not price.
- Ripple CTO Schwartz confirms XRPL initiatives boost ecosystem, but don’t directly move $XRP.
Gemini Mints 150M $RLUSD on XRPL
In a tweet, XRPL validator Vet highlighted that crypto exchange Gemini recently minted 150 million $RLUSD on the $XRP Ledger in collaboration with Ripple. According to him, this level of minting suggests that an equivalent amount of U.S. dollar liquidity is now in a Ripple-controlled bank account to back the issuance.
He added that Ripple’s $RLUSD minting and redemption system is functioning smoothly, with funds quickly routed to distribution accounts set to supply customer balances and network liquidity.
Does Nothing for $XRP Price
The development prompted questions from community members about whether such large-scale minting could affect $XRP’s price.
One user directly asked how minting $RLUSD on the ledger translates into price movement for $XRP. The question highlights a common belief that increased activity on the network could drive demand for the token.
Responding to the question, Vet dismissed the idea of any immediate price effect. He explained that $RLUSD is simply one of many assets issued on the $XRP Ledger, which operates as a multi-asset network.
As a stablecoin, $RLUSD maintains a fixed value, meaning its issuance does not inherently create buying pressure for $XRP.
Liquidity On-Ramp, Not Price Catalyst
Instead of directly affecting price, Vet pointed to $RLUSD’s broader role in the ecosystem. He noted that stablecoins like $RLUSD serve as key liquidity on-ramps, allowing users and institutions to bring capital onto the network more easily.
It does nothing directly for the price of $XRP, why would it?
The $XRP Ledger is a multi asset ledger, one of those issued assets is $RLUSD – a stablecoin.
Stablecoins are prime vehicles for liquidity on ramp to networks. So this is on ramping liquidity on $XRP.
— Vet (@Vet_X0) April 1, 2026
This liquidity can then be used for transactions, trading, or other financial activities within the $XRP Ledger. While this may strengthen the network’s utility and adoption over time, it does not immediately translate into upward price movement for $XRP itself.
The continued expansion of tools like $RLUSD could, however, play a longer-term role in boosting network usage, which some analysts believe may eventually support $XRP’s value.
Ripple CTO Also Confirms XRPL Initiatives Don’t Directly Move $XRP
Earlier this month, Ripple Emeritus CTO David Schwartz said $RLUSD activity, RWA tokenization, and XRPL bridging do not directly impact $XRP’s price. He noted their only immediate effect is burning small transaction fees.
He also dismissed the idea that token burns drive price gains, citing historical data showing no clear impact.
Meanwhile, Schwartz emphasized that these developments could have massive indirect effects by boosting adoption, liquidity, and overall ecosystem growth, which may strengthen $XRP’s long-term value.