Ripple’s RLUSD Breaks $2 Billion as XRP Ledger Supply Closes In on $1 Billion

Ripple’s RLUSD stablecoin reached a market capitalization above $2 billion in less than two years since its launch in December 2024. Ripple stated on Aug.

25 that the threshold was reached the previous week, following the issuance of nearly $1 billion of circulating RLUSD on the XRP Ledger. CoinGecko estimated the stablecoin market cap at $2.11 billion later in August.

Because RLUSD is pegged to $1, increases in its market capitalization mostly correspond to a growth in its circulating supply.

Around the time of the peg at one billion, there was just under $963 million RLUSD on the XRP Ledger and $1.05 billion on Ethereum, split roughly half-and-half between the two original networks. Ripple first deployed RLUSD on the XRP Ledger and Ethereum.