Ripple's RLUSD Surpasses $2B Market Cap, Ties XRP Ledger Supply

Ripple's stablecoin RLUSD has reached a significant milestone, surpassing $2 billion in market capitalization. This achievement was announced by Ripple on August 25, with approximately $1 billion of this total issued on the XRP Ledger. The RLUSD token is designed to maintain a value of $1 through reserves containing cash and permitted cash equivalents.

According to RWA.xyz data, RLUSD's market cap has increased by 31.45% over the past 30 days, with nearly equal shares of supply on both the XRP Ledger and Ethereum. The stablecoin's current valuation represents an eightfold increase from its level during the first four months after launch.

Ripple issues the stablecoin natively on each chain rather than bridging a single pool, contributing to the growth in RLUSD issuance. This has added dollar-denominated liquidity to the XRP Ledger's trading and payment infrastructure, with RLUSD trading pairs processed over $2.5 billion from its launch through late June.