Key facts
- XRPL stablecoin market cap fell 13.19% to $999.9 million in the past week.
- RLUSD accounts for over 90.75% of XRPL's stablecoin supply.
- Ripple's net burn of $12 million in RLUSD supply on XRPL was for cross-chain rebalancing.
- Cross River Bank and Arf are new partners integrating RLUSD on XRPL.
- Standard Chartered opened RLUSD institutional custody in Dubai.
The total stablecoin market capitalization on the XRP Ledger (XRPL) has fallen below $1 billion, marking a 13.19% decrease over the past week. RLUSD, Ripple's dollar-pegged token, remains the dominant stablecoin on the ledger, accounting for over 90.75% of its value. Ripple Treasury recently minted $38.6 million of RLUSD on Ethereum while burning $50.6 million on XRPL, resulting in a net reduction of $12 million in circulating supply, which the report suggests is a deliberate cross-chain rebalancing to more mature DeFi use cases on Ethereum. Despite the contraction, new partnerships are expanding XRPL's stablecoin infrastructure. Cross River Bank has integrated RLUSD into its core banking platform, and Ripple has partnered with Arf to supply RLUSD-backed working capital. Standard Chartered has also established RLUSD institutional custody in Dubai.