Ripple’s RLUSD stablecoin has seen an impressive surge in growth, surpassing a total supply of $120 million just two months after its launch. This rapid expansion signals its growing adoption, particularly on the XRP Ledger (XRPL), as it challenges Ethereum’s long-standing dominance in the stablecoin market.
Launched with a strong regulatory framework, RLUSD quickly gained traction, with its supply crossing the $100 million mark back in January. According to CryptoQuant data, RLUSD has gained significant momentum, and its use is expanding rapidly. While Ethereum initially hosted RLUSD transactions, data now shows a marked shift toward XRPL due to its lower transaction fees and greater network efficiency.
Ripple’s strategic listing of RLUSD on high-leverage trading platform Margex, as well as its availability on Zero Hash and Revolut, has significantly bolstered its presence in the mainstream finance sector. These listings have played a pivotal role in boosting RLUSD’s adoption, offering more users access to the stablecoin.
A closer look at the distribution reveals that while Ethereum still holds a majority of RLUSD’s total supply, with about $83.3 million in circulation, XRP Ledger’s share has grown rapidly to $37.4 million. This shift reflects the growing preference for the more efficient XRPL network for stablecoin transactions.
Ripple’s focus on strengthening RLUSD’s position on XRPL is poised to make a significant impact on blockchain-based financial solutions. Moreover, the success of RLUSD could have a positive effect on XRP’s price and liquidity. Currently trading at $2.57, XRP has faced a slight drop in the past 24 hours, but analysts remain optimistic. XRP Captain, a well-known crypto analyst, predicts XRP could reach as high as $250 by 2026, marking what could be the largest breakout in Ripple’s history.
Also Read: XRP Traders at Risk of Liquidations as Price Struggles with Key Resistance Levels
With RLUSD gaining momentum on XRPL, Ripple’s influence in the blockchain and cryptocurrency space is undeniably growing, signaling a promising future for both RLUSD and XRP.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of CoinBrief.io. Before making any investment decisions, you should always conduct your own research. Coin Brief is not responsible for any financial losses.
