Key Insights:
- Ripple RLUSD supply crosses $2 billion.
- Stablecoins on XRPL have also rapidly increased amidst rising network activity.
- XRP’s price has been on the rise, up over 28% in the past week, but has now pulled back.
Ripple RLUSD has reached $2 billion in market cap, a significant milestone for the stablecoin. The firm announced the development on X. They noted that nearly $1 billion in the circulating supply was issued on the XRPL.
Ripple launched RLUSD in December 2024, positioning the stablecoin for institutional use. Speaking on the milestone, Jack McDonald described it as another piece of evidence of momentum behind the RLUSD. Jack is the Ripple Senior Vice President on Stablecoins,
“From institutional partners like @BNYglobal to growing exchange adoption and real-world use cases, we’re building the infrastructure and distribution for scale,” McDonald said.
Stablecoin Supply Growing on XRPL as Network Activity Surges
The rise in Ripple RLUSD circulating supply corresponds with increased stablecoin volume on XRPL. Despite the general trend of contraction in stablecoin supply across several networks, XRPL has stood out.
Since stablecoin supply peaked in May, it has dropped by around 6% across all networks, according to XRP treasury company Evernorth. However, Ripple RLUSD supply has increased by 39% since then on XRPL, reaching $938 million.
In the past 30 days, $450 million in RLUSD was issued on XRPL, and all of it has been redeemed. This is far above the 177 million RLUSD redeemed on Ethereum, out of the 403 million issued in that period.
The increased adoption of RLUSD on XRPL is likely due to Ripple’s efforts to position the network for institutions. Ripple recently announced a partnership with Cicada and Clearpool to launch an institutional lending platform on the network.
Activity on the network has also increased significantly, with active XRP addresses rising by 654%. It went from 47,180 to 365,070, according to Santiment. It’s a surge that crypto analyst Ali Martinez has attributed to increased network participation.
XRP Price Sees Pullback Despite Almost 30% Weekly Gain
Meanwhile, the positive momentum for XRPL and Ripple RLUSD is also impacting the XRP price. The token is up 29% in the past seven days amidst a broader crypto rally.
It briefly crossed $1.6 on August 22, reaching its highest price in February 2026, but has since pulled back. In the past 24 hours, the XRP price has fallen by 5.6% to hit $1.378.
The pullback means XRP is down 25% year-to-date and more than 50% over the last 12 months. XRP price dip means the token is the worst-performing major-cap cryptocurrency in the past 24 hours.
However, it also reflects how quickly the token soared during the rally. It is one of the best-performing digital assets in the last seven days, with only ZEC outperforming it.
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