Ripple's Stablecoin Play Deepens as Whales Move into Position

Ripple has added $10 million in RLUSD stablecoins to its XRP Ledger treasury. This move comes as Tether, another major stablecoin issuer, continued to increase its own holdings on the Tron blockchain.

The difference between Ripple's and Tether's business models is significant. While Tether serves a large retail market with its massive $91 billion in USDT held on the Tron blockchain, Ripple targets commercial customers through its Ripple Mint platform.

Ripple's RLUSD currently has a market capitalization of $1.52 billion, which is about 20% below its May peaks. The latest mint also coincided with large investor activity on the spot market, as whales began moving funds and accumulated over 380 million XRP in the past week.

The maneuvers took place around the crucial $1 level for XRP, which major players are defending as a key support level. This situation reflects the current status quo in the stablecoin market, with Tether dominating retail transactions and Ripple testing its B2B product within the corporate payments niche.