Ripple's RLUSD Surges Past Ethereum on Circulation as Total Supply Hits Record

Ripple's stablecoin RLUSD has regained its supply lead on Ethereum, surpassing XRP Ledger (XRPL) in circulation. According to recent data, RLUSD circulation on Ethereum stands at $989.34 million, outpacing the $941.36 million on XRPL.

This shift is attributed to faster growth in RLUSD issuance on Ethereum during a liquidity adjustment process over the past 24 hours. On Aug. 20, $73.80 million worth of RLUSD was issued and $23.50 million burned on Ethereum, resulting in a net increase of $50.30 million.

Total supply is also rising rapidly, reaching a record high of $1.939 billion since its launch in December 2024. Ripple runs RLUSD on both networks, supporting expansion of its distribution base and increasing institutional and decentralized finance (DeFi) demand.