Ripple Says RLUSD Has Crossed $2 Billion Market Cap
- Mathew Jacob
- 1 day ago
- 2 min read
Ripple’s RLUSD stablecoin has surpassed the $2 billion market capitalization milestone, marking another significant step in the growth of Ripple’s stablecoin business. Ripple confirmed that RLUSD crossed the threshold last week, with close to $1 billion of the stablecoin’s supply issued on the XRP Ledger.
Data from RWA.xyz showed RLUSD at approximately $2.02 billion in market capitalization as of August 25. Around $962.8 million of RLUSD was circulating on the XRP Ledger, while approximately $1.05 billion was issued on Ethereum, putting the two networks relatively close in terms of supply.
The milestone is notable given that RLUSD launched in December 2024. Since then, Ripple has positioned the dollar-backed stablecoin for applications including payments, institutional settlement, liquidity management and other financial use cases. Its market capitalization has grown substantially from the early stages of the project.
Activity surrounding RLUSD is also expanding. RWA.xyz data cited by Bitcoin.com showed approximately $11.81 billion in transfer volume over the previous 30 days, spread across about 1.39 million transactions. This suggests that the stablecoin’s growth is being accompanied by increasing on-chain movement rather than simply an increase in circulating supply.
For the XRP Ledger, the increasing RLUSD supply adds another source of dollar-denominated liquidity to the network. RLUSD trading activity has also become an important part of the XRPL ecosystem, with previous analysis showing substantial volumes across RLUSD trading pairs, including the RLUSD-XRP pair.
Ripple has continued building infrastructure around RLUSD as well. The company introduced Ripple Mint, a platform designed to allow eligible institutions to manage RLUSD issuance and redemption, alongside other functions such as blockchain connectivity and transaction monitoring. Ripple is also supporting efforts exploring institutional lending applications for RLUSD on the XRP Ledger.
Crossing $2 billion places RLUSD among the larger stablecoins by market capitalization and highlights Ripple’s growing presence in the stablecoin market. The next phase will depend on whether RLUSD can continue expanding its supply, transaction activity and institutional use across the XRP Ledger and other supported networks.
