RLUSD market cap reaches $2.49B, surpassing 86% growth since the start of 2026.

According to Huoxing Finance, on September 28, the circulating supply of Ripple’s stablecoin RLUSD reached a new high, with a market capitalization of approximately $2.491 billion—an increase of over 86% from $1.336 billion at the beginning of 2026. It is now just $248 million behind PayPal’s PYUSD, which has a market cap of approximately $2.739 billion. Data shows that over the past week, RLUSD’s supply increased by about $112 million, while PYUSD decreased by approximately $61 million. PYUSD’s supply stood at around $3.531 billion at the start of this year, peaked at $4.214 billion on March 5, and has since declined by roughly 35% from its peak. In terms of issuance networks, between September 21 and 28, RLUSD’s supply on the XRP Ledger rose from $1.036 billion to $1.099 billion—an increase of about $63 million—while its supply on Ethereum increased from $1.343 billion to $1.392 billion, adding approximately $49 million. Currently, the XRP Ledger accounts for about 44% of RLUSD’s total supply, while Ethereum accounts for approximately 56%. The global stablecoin market cap currently stands at around $306 billion, meaning RLUSD still holds a relatively small share. Ripple has recently been actively promoting RLUSD adoption on the XRP Ledger, including use cases such as institutional lending.