Ethereum Surges Ahead in Holding $1.38B RLUSD Amid Ripple's Stablecoin Redistributor

Ripple has moved $1.36 million RLUSD from the XRP Ledger to Ethereum, but this transaction is just one piece of a larger shift in the stablecoin's distribution between the two networks.

On September 6, Ripple removed approximately $1.36 million RLUSD from circulation on XRPL and minted an identical amount on Ethereum shortly after, according to on-chain transactions highlighted by U.Today. This supply rebalance suggests that RLUSD is being reallocated rather than created anew.

The result of this movement is a widening gap in the number of RLUSD held on each network. As of now, Ethereum hosts around $1.38 billion of RLUSD and XRPL holds approximately $1.03 billion, giving Ethereum roughly 57.3% of total supply and a lead near $350 million.

This reversal is relatively swift, as in late June XRPL briefly overtook Ethereum for the first time with $801 million of RLUSD against Ethereum's $795 million. By August 21, however, Ethereum had regained its lead with $989.34 million to XRPL's $941.36 million.