The event took place through two transactions on the XRP Ledger (blockchain network for XRP) and was described as the second-largest intraday net RLUSD burn in the token’s history.
Ripple burned $120 million worth of RLUSD (Ripple’s U.S. dollar-backed stablecoin) at the end of April 2026, according to the provided report. The burn was executed on the XRP Ledger (blockchain network for XRP) through two separate transactions. The report said the move marked the second-largest intraday net RLUSD burn event on record. It also noted that such burns are typically followed by large RLUSD liquidity movements, though no further transaction details or destinations were provided in the source.