RLUSD supply fell 29% on XRPL as an XRP trading pool remained steady

Recent data regarding rlusd xrpl metrics revealed that the reported supply of Ripple's dollar stablecoin fell by almost 29% in a single day on the XRP Ledger. Despite this sharp nominal decrease, a sampled XRP and RLUSD trading pool did not experience a comparable loss in its internal reserves. Ledger observations conducted between October 29 and October 31 showed that the pool's XRP balance slipped by less than 1%, while its RLUSD balance actually registered a slight increase.

Order Book and Pool Dynamics

The divergence between overall supply metrics and specific trading inventory is important for holders attempting to execute trades. DefiLlama figures from October 31 recorded 707 million tokens on the network, representing a 28.7% decline over the displayed window. However, funded RLUSD offers available to sellers of XRP increased during the same captured order-book sample. Conversely, the opposite side of the order book remained below previous levels, demonstrating that different sides of the market behaved independently.

Stablecoin supply metrics dropped sharply on the ledger while specific trading pool reserves remained largely stable.

Readings from specific ledger checkpoints indicated that the sampled pool contained about 1.87 million XRP and 2.34 million RLUSD in later observations. Because automated market makers allow participants to exchange assets directly against these liquidity pools, the actual pool balances dictate execution quality more than total token counts sitting elsewhere on the network. DefiLlama and ledger dashboards did not share an exact intraday cutoff, leaving the precise cause of the supply contraction unresolved.

Why it matters

This discrepancy matters for market participants deciding whether they can efficiently trade into or out of Ripple's stablecoin. While total issuance numbers decreased on-chain, local liquidity pools and funded order books maintained varying levels of capacity depending on the direction of the trade. The findings highlight that headline supply figures do not always reflect immediate execution conditions for everyday market users.