<p style="text-align: justify"><a href="https://en.coin-turk.com/xrp-analyst-egrag-crypto-projects-wave-3-targets-up-to-31-19-if-3-50-breaks/" rel="noopener noreferrer nofollow">Ripple</a>, the US-based fintech company behind the XRP Ledger, minted approximately $110.57 million worth of RLUSD on its network soon after Binance began re-enabling withdrawals in the wake of a $6.3 billion security breach, drawing renewed attention to two major developments within the XRP ecosystem.</p>
<h2 id="ripple-mints-rlusd-amid-recent-supply-drop">Ripple mints RLUSD amid recent supply drop</h2>
<p style="text-align: justify">On November 2 at 20:43 UTC, Ripple issued 110,565,832 RLUSD through its stablecoin treasury, according to on-chain data cited by CoinEdition. The timing placed the mint just before Binance’s announcement on November 3 about restoring RLUSD withdrawals on both the XRP Ledger (XRPL) and <a href="https://en.coin-turk.com/sec-approves-spot-ethereum-etfs-2/" rel="noopener noreferrer nofollow">Ethereum</a>.</p>
<p style="text-align: justify">The mint followed a sharp decline in RLUSD supply on XRPL. On October 30, the network saw approximately $284 million in RLUSD supply withdrawn, amounting to a 28.7% reduction in circulation. Analysis of the blockchain showed that a substantial portion of RLUSD was returned to Ripple’s issuer account. This contraction was partly offset by the subsequent new issuance.</p>
<blockquote>
 <p>Large stablecoin issuances often indicate treasury balancing, exchange operations, or settlement activities, rather than a direct surge in consumer demand for RLUSD.</p>
</blockquote>
<p style="text-align: justify">Industry analysts suggested the recent RLUSD mint reflects Ripple’s broader moves to scale institutional payment infrastructure and expand stablecoin distribution through new partnerships.</p>
<p style="text-align: justify;background: linear-gradient(135deg,#ffffff 0%,#fffdf9 100%);border:1px solid #f1e4d8;border-left:4px solid #F69434;padding:14px 16px;border-radius:12px;color:#1e293b;font-size:15px;line-height:1.7">Mini dictionary: RLUSD is a dollar-backed stablecoin issued on the XRP Ledger, designed to provide price stability and facilitate faster settlements. The stablecoin can be frozen or rendered unusable by the issuer in case of security breaches or suspicious activity.</p>
<table style="border:1px solid #f1e4d8;padding:8px">
 <thead>
  <tr>
   <th>Date</th>
   <th>RLUSD Supply Change</th>
   <th>Notable Event</th>
  </tr>
 </thead>
 <tbody>
  <tr>
   <td>Oct. 30</td>
   <td>– $284 million (28.7% drop)</td>
   <td>Large redemption, supply contraction</td>
  </tr>
  <tr>
   <td>Nov. 2</td>
   <td>+ $110.57 million</td>
   <td>New RLUSD issued by Ripple</td>
  </tr>
 </tbody>
</table>
<h2 id="binance-resumes-xrp-and-rlusd-withdrawals-after-multibillion-dollar-hack">Binance resumes XRP and RLUSD withdrawals after multibillion-dollar hack</h2>
<p style="text-align: justify">Binance, the world’s largest cryptocurrency exchange, began restoring withdrawals for select digital assets on November 1, with a second round on November 3 that included RLUSD on both XRPL and Ethereum. This phased reopening enabled users to regain access to their assets as Binance’s internal security verifications progressed.</p>
<p style="text-align: justify">The restoration came days after Binance suffered a major hack on October 29, during which 233.46 million XRP, valued at approximately $296 million, were transferred from five exchange wallets without authorization. Further analysis revealed the total affected assets across various blockchain networks amounted to $6.34 billion.</p>
<p style="text-align: justify">On November 4, Binance announced that it had replenished 98% of all impacted token assets, continuing to procure certain less-liquid cryptocurrencies. The company emphasized that customer account balances would remain protected, and that users would not bear losses from the incident.</p>
<blockquote>
 <p>Restoring user asset backing did not immediately restore full market confidence, as Binance experienced net outflows totaling $3.64 billion within the first nine and a half hours after withdrawals reopened.</p>
</blockquote>
<p style="text-align: justify">The incident underlined a key functional difference between XRP, the network’s native cryptocurrency, and RLUSD. Following the breach, Ripple acted to freeze $40.5 million in stolen RLUSD through issuer-level restrictions, preventing the movement of these assets. By contrast, XRP does not have an issuer or freeze function, so Ripple cannot halt the transfer of stolen XRP once it leaves its wallets.</p>
<p style="text-align: justify">In the XRP Ledger system, fees for RLUSD transactions are paid in XRP, but the amounts are generally minor. As a result, the $110.57 million stablecoin mint does not necessarily translate into a proportional spike in XRP demand.</p>
<p>The post <a href="https://en.coin-turk.com/ripple-issues-110-million-rlusd-on-xrpl-as-binance-resumes-withdrawals-after-6-3b-hack/" rel="noopener noreferrer nofollow">Ripple issues $110 million RLUSD on XRPL as Binance resumes withdrawals after $6.3B hack</a> appeared first on <a href="https://en.coin-turk.com" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

Ripple issues $110 million RLUSD on XRPL as Binance resumes withdrawals after $6.3B hack

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