Ripple's stablecoin RLUSD has surpassed $2.5 billion in market capitalization, reaching $2.521 billion as of the latest data. The milestone reflects sustained growth for the stablecoin, which now ranks as the eighth-largest in the market.
Over the past 30 days, Ripple minted $790 million in RLUSD across the Ethereum network and the XRP Ledger, while burning $638 million. This activity resulted in a net supply increase of $152 million during the period.
Recent Minting Activity
The minting surge began mid-September, with activity picking up on September 17. Since that date, Ripple deployed $419 million in RLUSD, representing over 53% of the month's total minting volume. Daily mint figures have mostly remained below $50 million, though notable spikes occurred on September 21 with $76.3 million and September 25 with $130.3 million. The largest single-day mint in the past month was $153.2 million on September 1.
Market Growth Trajectory
RLUSD added over $500 million to its market cap within five weeks. The stablecoin crossed the $2 billion milestone on August 26 and reached $2.5 billion roughly one month later. Launched in December 2024, RLUSD has achieved this growth in 21 months.
Network Distribution
The Ethereum network maintains a larger RLUSD supply at $1.396 billion, compared to $1.124 billion on the XRP Ledger. However, over the past 30 days, the XRP Ledger received more deployment activity, with approximately $470 million deployed compared to $315 million on Ethereum. The XRPL recorded higher burn volumes at $395.7 million versus $242.3 million on Ethereum, resulting in roughly a +$72 million net supply change on each network over the period.
