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XRP 
RLUSD The market value of Ripple's dollar-anchored stablecoin RLUSD exceeded US$2 billion.
According to the latest data from CoinGecko, the market value of the dollar-anchored stablecoin RLUSD issued by Ripple has reached US$2.035 billion. This milestone is only a few months after the stablecoin's official launch in December 2024, making it one of the fastest-growing products of its class of regulated assets.
Rapidly rising supply and enhanced XRP ledger momentum
The current supply of RLUSD on XRP ledgers is close to US$1 billion, indicating that its adoption rate on Ripple's native blockchain network is rising. In the past day, the RLUSD vault recorded multiple large-scale casting incidents, including the issuance of 40 million, 25 million, 20 million, 19 million, 14 million and 12 million RLUSD pieces. The surge in casting activity has injected new liquidity into the ecosystem.
RLUSD's presence on the XRP ledger is rapidly increasing, and recent release activities have provided a lot of liquidity support to users and applications within the Ripple ecosystem.
Although RLUSD initially used Ethereum as the main network, most of its recent expansion occurred on the XRP ledger. This shift reflects the increasing deployment of RLUSD on Ripple's own infrastructure.
Small Dictionary: XRP Ledger is Ripple's open source blockchain protocol. It is designed for fast and efficient payment scenarios around the world and supports on-chain issuance, transfer and redemption of digital assets.
Top contender on stablecoin track
The rapid growth of RLUSD has placed it among the leading dollar-backed stablecoins, currently second only to well-known tokens such as Tether's USDT, Circle's USDC, Maker's USDS, Dai, Ethena's USDe, and PayPal USD (PYUSD).
Currently, PayPal's PYUSD market value is approximately US$2.87 billion, which is only less than US$1 billion ahead of RLUSD. The gap between the two continues to narrow, indicating that if RLUSD maintains its current growth rate, it may soon challenge PYUSD's status in the regulated stablecoin sector.
The market value of stablecoins is as follows:
Tether (USDT): US$183 billion
Circle (USDC): US$73 billion
Maker (USDS): US$9.7 billion
Dai: US$4.5 billion
Erena (USDe): US$4 billion
PayPal USD (PYUSD): US$2.87 billion
Ripple RLUSD: $2.035 billion
Tether's USDT continues to lead the stablecoin market with a market cap of $183 billion, closely followed by Circle's USDC ($73 billion). Other contenders worth watching include USDS, Dai and Ethena's USDe, each maintaining a market cap of billions of dollars.
The gap between RLUSD and PYUSD is now less than US$1 billion, making RLUSD a strong competitor in the regulated stablecoin space.
Ripple, known for its enterprise-level blockchain solutions and cross-border payment systems, said that RLUSD's regulated status and growing liquidity are the basis for its continued upward momentum.
