XRP Ledger Stablecoin Market Surges to $1.159 Billion

The XRP Ledger stablecoin market experienced significant growth over the past week, increasing by $67.12 million to reach a total of approximately $1.159 billion on September 25.

This represents a 6.15% rise in the tracked stablecoin market capitalization over seven days, with Ripple's USD (RLUSD) accounting for 92.1% of the total.

According to DefiLlama, RLUSD has seen an 11.55% monthly growth rate, surpassing the broader market's 9.8% increase and indicating a more concentrated expansion in Ripple's dollar-backed token.

However, USDC's tracked market capitalization on XRPL declined by 21.86% over the past month, falling to approximately $4.62 million, while other assets such as Valtorum USD and EUR CoinVertible also experienced declines of 7.03% and 2.37%, respectively.

The growth in RLUSD's market capitalization is separate from XRP buying, with Ripple stating that the token is backed by segregated cash and cash-equivalent reserves and is redeemable one-for-one for dollars.