Ripple's $2 Billion Stablecoin Milestone Falls Short of XRP Price Boost

Ripple's RLUSD stablecoin has reached $2 billion in value, nearly eightfold growth since April of this year. Close to half of that amount is held on the XRP Ledger.

Of the $2 billion, almost $1 billion is issued on Ethereum, while roughly $962 million is issued on the XRP Ledger. RLUSD's growth has been significant, with a nearly tripled increase in value since March on the XRP Ledger alone.

The impact of this growth on XRP's price is not direct. RLUSD issued on the Ethereum network does not benefit XRP holders, as fees go to ETH and trade against Ethereum.

Ripple's lending protocol, currently under development, aims to give idle XRP a way to earn interest for the first time. However, this protocol requires more than 80% of validators to approve it and hold support for two consecutive weeks before activation.