RLUSD Dominates XRP Ledger Stablecoin Market
Ripple's dollar-pegged stablecoin, RLUSD, has solidified its position as the dominant fiat-backed asset on the XRP Ledger. The token now controls 92.1% of the total stablecoin market capitalization on the network, which reached $1.159 billion on September 25.
This represents a significant increase from just over a week prior, with RLUSD's market value climbing 11.55% in the past 30 days. In contrast, other stablecoins like USDC and Valtorum USD have seen their market capitalization decline.
The growth of RLUSD coincides with technical preparations on the network, including the upcoming XRP Ledger Batch V1.1 protocol upgrade. This feature aims to streamline complex operations and improve throughput for users executing multiple related transfers.