Key facts
- XRP Ledger's total stablecoin supply is $1.092 billion, ranking 12th among blockchain networks.
- Stellar's total stablecoin supply is $968.67 million, ranking 13th.
- XRP Ledger's stablecoin supply has increased by 14.29%, while Stellar's has decreased by 5.87%.
- Ripple USD (RLUSD) accounts for 90.49% of XRP Ledger's stablecoin supply, exceeding $988 million.
- RLUSD has surpassed a $2 billion market cap.
The XRP Ledger (XRPL) has surpassed the Stellar network in total stablecoin supply, a significant development attributed to the growing momentum of Ripple USD (RLUSD). XRPL now holds a total stablecoin supply of $1.092 billion, placing it 12th among blockchain networks, while Stellar ranks 13th with $968.67 million. XRPL's supply has seen a 14.29% increase, contrasting with Stellar's 5.87% decline over an unspecified period. In the past week, XRPL's stablecoin supply grew by approximately 13%, whereas Stellar's decreased by 6.5%.
The substantial growth on XRPL is primarily driven by RLUSD, which constitutes over 90.49% of the network's total stablecoin supply, amounting to more than $988 million. RLUSD has recently crossed the $2 billion market cap milestone, positioning it as a rapidly growing stablecoin, described by an XRP Ledger validator as the fastest regulated under the NYDFS. This expansion occurs as Ripple actively engages in institutional credit markets and develops new initiatives, such as providing RLUSD loans to fintech and payments companies through a collaboration with Clearpool and Cicada Partners.
While Ethereum still leads XRPL in terms of RLUSD supply, with approximately $1.08 billion on the network, RLUSD's rapid ascent on XRPL highlights its increasing adoption. Ripple founded RLUSD in December 2024, and it is designed for use and liquidation within the XRPL ecosystem using dollars, while XRP continues to serve its role for transaction fees and account balances.