Ripple suddenly destroys millions of dollars worth of RLUSD stablecoins

On September 9, Ripple permanently destroyed 2.71 million RLUSD tokens, the largest single destruction since the end of August. In the previous two weeks, Ripple had destroyed millions of tokens several times, with a total of nearly 6 million tokens exiting circulation. RLUSD maintained a $1 peg with a market cap of $728 million, and daily trading volume surged to $84 million. The supply management of this stablecoin ensures a 1:1 peg to fiat collateral.