Ripple's RLUSD Stablecoin Surpasses $2.4B Market Cap

Ripple's stablecoin RLUSD has reached a market capitalization of approximately $2.4 billion, according to data from Ripple's transparency dashboard. This represents a growth of over 50% in just one month, with average daily activity more than tripling since the start of the year.

The increase in RLUSD's market cap and usage is attributed to its distribution across both the Ethereum network and the XRP Ledger (XRPL), Ripple's public network for transferring assets. This expansion may add liquidity and settlement activity across those networks, but it does not necessarily guarantee increased demand or value for XRP.

As of September 24, Ripple's transparency dashboard listed $2.409 billion in circulating RLUSD tokens against $2.5315 billion in reserve funds. The figures show the scale of the dollar-linked token, with reserves about $122.5 million above circulation.