Ripple's RLUSD stablecoin is reshaping activity on the XRP Ledger with a big jump in transfer volumes. Data from RWA.xyz shows that stablecoin transactions on the XRP Ledger climbed 10.8% over the last month, reaching $4.28 billion. This rise signals that both users and businesses are increasingly relying on the network for moving funds, which often hints at growing liquidity and vibrant ecosystem activity.
The increased flow of stablecoins suggests these tokens are circulating more, moving away from sitting idle and instead supporting various financial applications. This boost in usage benefits decentralized finance tools and encourages more projects to build on XRP Ledger’s infrastructure, reinforcing its position as a platform designed for payments and tokenized assets.
RLUSD is at the heart of this growth. The stablecoin now holds a massive 94% share of the XRP Ledger’s stablecoin market, with a market cap climbing to $872 million. Since its launch by Ripple in December 2024, RLUSD has steadily shifted from Ethereum onto the XRP Ledger. The company has been actively burning RLUSD tokens on Ethereum while minting new ones on XRP Ledger, a strategic move that pushed XRPL past Ethereum in RLUSD supply last month.
Over the past quarter, Ripple burned $1.15 billion worth of RLUSD on Ethereum to balance supply between the networks. This shifting supply dynamic not only strengthens XRPL’s stablecoin ecosystem but also emphasizes Ripple’s commitment to building its native blockchain’s liquidity and use cases.
The market responded with a moderate uptick in XRP price following these developments.
