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XRP's ledger just crossed $1 billion in stablecoins — and almost all of it is one token. RLUSD supply on the XRP Ledger jumped 49.7% in Q3 to $1.01 billion, 98.1% of all stablecoin liquidity there. Total stablecoin supply hit $1.03 billion, with transfers up 39.5% to $14.09 billion. The catch, from the same report: dollar liquidity is not XRP demand. You can use more RLUSD without buying XRP. XRP trades near $1.26 while its ledger quietly becomes a dollar highway. The network is winning usage. The token still has to prove it captures it.

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