Ripple's Stablecoin Market Cap Surges by $765 Million in Q3

Ripple's stablecoin market cap grew significantly in Q3 2026, adding $765.3 million to its total, according to a recent analysis by the RWA Foundation X account. This growth puts Ripple second among issuers, behind only Circle, which added $915 million over the same period. The stablecoin market cap as a whole stood at $300.9 billion as of October 1, 2026, across 195 assets, 152 issuers, and 47 chains. Holder addresses reached 308.4 million during the quarter.

Ripple's RLUSD stablecoin was a standout performer, growing its market cap by more than 50% in a month, topping $2.4 billion. The average daily activity for RLUSD has more than tripled since the start of the year. Additionally, RLUSD expanded its liquidity and distribution through Spark Finance's Stablecoin FX Layer on Uniswap v4, with RLUSD/USDS processing more than $600 million in its first week.

Tether, on the other hand, saw its market cap decrease by $207.7 million, making it the biggest issuer to contract in the quarter. Ripple's SVP of Stablecoins, Jack McDonald, shared highlights from RLUSD's monthly independent attestation for August, noting its continued growth.