Ripple's US dollar-pegged stablecoin, RLUSD, has quickly climbed the ranks to become one of the top ten stablecoins by market capitalization. Less than a year after its December 2024 launch, RLUSD surpassed the $1 billion threshold, a milestone that reflects growing confidence in Ripple's expanding digital asset ecosystem.
In brief
- RLUSD has soared 1,278% since the start of the year, reaching $1 billion in capitalization in just a few months, and is already among the top ten stablecoins.
- Ripple is expanding the reach of RLUSD via partnerships with GTreasury, Ripple Prime and Rail for faster global settlements.
- Retail adoption is increasing thanks to integrations with Transak platforms, Xaman wallets and dual-chain support on Ethereum and XRP Ledger.
- Ripple's acquisition of Hidden Road strengthens its ecosystem, connecting traditional finance with digital asset liquidity.
Ripple strengthens its position in the estimated $250 billion stablecoin market
Ripple USD (RLUSD) has seen a remarkable 1,278% increase in its market capitalization since the start of the year, according to the latest market data. The stablecoin crossed the $1 billion milestone on Monday, just days after reaching $900 million on October 24.
In a post on X, Ripple mentioned that with Ripple Prime, GTreasury, and Rail joining its network, RLUSD and
Although RLUSD is still behind heavyweights like Tether's USDT ($183 billion) and Circle's USDC ($75 billion), it has established itself as a strong contender among stablecoins indexed to the dollar. RLUSD currently ranks tenth, recording daily trading volumes of $174 million, comparable to PayPal's PYUSD and MakerDAO's Dai.
RLUSD appeals to individuals as Ripple expands its digital asset offering
Initially positioned as an enterprise asset, RLUSD quickly gained traction among retail users through integrations with payment platforms and self-custodial wallets.
Its adoption was notably driven by several key factors:
- Expanded support from platforms like Transak, improving global access.
- Increased use within self-custodial wallets such as Xaman.
- Growing availability on the Ethereum network and the XRP Ledger.
- Wider acceptance in cross-border settlement solutions.
- Increased participation from institutional and individual traders.
Data from RWA.xyz shows that RLUSD issued on Ethereum represents approximately 80% of the total supplywhile the XRP Ledger version accounts for 20%. The balance between the networks indicates that Ripple's dual-chain strategy is gaining popularity among developers and liquidity providers.
The milestone achieved by RLUSD comes alongside the expansion of Ripple's ecosystem services, which now include a digital asset spot brokerage premium in the United States. The move follows Ripple's acquisition of Hidden Road, a crypto-friendly prime broker acquired for $1.25 billion in October, positioning the company for deeper integration between traditional finance and digital assets.
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