XRPL's reported RLUSD supply fell 28.7% in one day to 707 million tokens, but a sampled XRP/RLUSD automated market maker pool showed minimal reserve changes that did not mirror the scale of the decline. The pool's XRP balance fell less than 1% while its RLUSD balance increased slightly between Oct. 29 and Oct. 31, holding roughly 1.87 million XRP and 2.34 million RLUSD in the later observation.
The order book on either side of the pool responded unevenly to the supply contraction. Funded RLUSD offers available to XRP sellers rose from 62,952.98 RLUSD on Oct. 29 to 112,162.55 RLUSD by Oct. 31. Funded offers to buy RLUSD with XRP declined from 71,292.22 RLUSD to 40,870.63 RLUSD between those closes, recovering only partially to 59,593.01 RLUSD by Oct. 31. XRP traded near $1.25 on Oct. 31.
A fixed-size order estimate showed a 10,000-RLUSD buy would cost 8,033.58 XRP (0.14% above reference mid) and a 10,000-RLUSD sell would return 8,015.85 XRP (0.08% below mid), with both orders fillable in the captured book. Without an earlier equivalent estimate, execution costs cannot be shown to have changed due to the supply decline.
The cause of XRPL's RLUSD supply drop remains unresolved. Ethereum's RLUSD supply rose 5.73% to near 1.71 billion over the same window. DefiLlama's supply dashboard and market samples lack aligned cutoff times or ledger references, preventing isolation of responses to specific transactions. Ripple's issuer-wide transparency data showed 2,627 million circulating RLUSD and $2,759 million in reserve funds as of Oct. 29, but cannot be paired as simultaneous observations with Oct. 31 chain supply.