Ripple's $449 Million Stablecoin Mint on XRP Ledger Ends Up With 99% Burn Rate

What happened

Ripple minted a $449 million stablecoin on the XRP Ledger, but 99% of the tokens were burned as the Ethereum network imbalance deepened.

Confirmed

Global impact / market context

A near‑total burn shows weak demand or operational issues for Ripple’s XRP‑Ledger stablecoin, which could lower confidence in the platform and affect Ripple’s broader strategy.

Analyst inference

Ethereum’s growing imbalance may drive users to look for cheaper alternatives, yet the high burn rate suggests the XRP Ledger stablecoin is not yet capturing that interest.

Analyst inference

What to watch

1. Monitor Ripple’s next stablecoin launches on the XRP Ledger, noting issuance size and whether the burn rate improves, which signals market acceptance. Analyst inference
2. Watch Ethereum network congestion and fee levels, as rising costs may push users toward cheaper alternatives like XRP Ledger stablecoins, affecting demand. Analyst inference
3. Track regulatory guidance on stablecoins in the U.S. and globally, since stricter rules could limit Ripple’s ability to issue or maintain stablecoin projects. Analyst inference

Affected assets

• ETH — Ethereum
• XRP — XRP

Evidence

• u.today