Ethereum Overtakes XRP Ledger as Ripple Favors Stability Over Volatility

Ripple's decision to issue RLUSD tokens on the Ethereum network has led to a significant shift in the stablecoin supply dynamics. The total circulating supply of RLUSD on Ethereum reached $1,629,275,517, close to its internal record issuance limit. This development comes as the XRP Ledger blockchain is rapidly losing its monopoly on hosting Ripple's dollar-denominated asset.

The gap between the two networks has narrowed to a symbolic $5.7 million, with Ethereum breathing down XRP Ledger's neck. On XRP Ledger, the RLUSD stablecoin supply stands at $817,531,386 (50.18%), while on Ethereum it is $811,744,131 (49.82%).

The influx of new capital into Ethereum has been substantial, with the stablecoin balance increasing by $173.4 million over the past 30 days. In contrast, XRP Ledger has experienced a net liquidity outflow, with $42.3 million more RLUSD being burned than issued.