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Highlights
- RLUSD stablecoin now have a total supply of 120 million
- The stablecoin growth on the XRP Ledger has outpaced that of Ethereum
- The stablecoin's liquidity is fueling hopes of XRP rally in the future
Exactly two months after its official launch, the Ripple USD (RLUSD) stablecoin has reached 120,000,000 in total supply. The token, launched on Ethereum and XRP Ledger (XRPL), has gained significant traction in such a short period, underscoring its growing adoption and utility across multiple sectors.
RLUSD Stablecoin: State of the Adoption
Blockchain analytics platform CryptoQuant shared the update on X, citing an earlier post by Researcher JA Maartunn regarding the outlook of RLUSD stablecoin.
The latter acknowledged RLUSD’s initial growth on the Ethereum blockchain around the launch. However, he noted a recent pivot as the token gained traction, favoring the XRP Ledger. RLUSD was listed recently on the high-leverage trading platform Margex, adding another achievement for the stablecoin.
Also, the NYDFS-regulated Ripple stablecoin bagged a Zero Hash listing earlier this year. It also went live to trade Revolut, further pushing it into mainstream finance. All of these integrations may have contributed to this surge in total supply.
This expansion push has contributed to the RLUSD supply boost.
RLUSD Outlook on XRP Ledger and Ethereum
Blockchain payment company Ripple commenced test minting of RLUSD on Ethereum and XRPL in August, about four months before the stablecoin launched. Per the recent update, the stablecoin has started gaining traction on the XRPL because of the lower transaction fees that apply to the network.
As it stands, XRPL holds around 37.4 million RLUSD and has now overtaken Ethereum in terms of growth rate. The supply of the RLUSD stablecoin on the Ethereum protocol is now below 83.3 million RLUSD. Generally, the current total supply of $120 million worth of RLUSD is a milestone for the stablecoin and the broader Ripple ecosystem.
The narrative around RLUSD on XRP Ledger stands out partly because of the tokenization link. Over the past few months, Ripple Labs has inked some partnerships to drive its Real-World Assets (RWA) tokenization agenda.
XRP Price and Whale Boost
The increased traction of RLUSD on the XRPL ecosystem has helped sustain the price of XRP, drawing on its usage and liquidity.
At the time of this writing, the altcoin traded at $2.64 after losing 3% of its gains in the last 24 hours. The new development in the stablecoin ecosystem may turbocharge its long-term price rally.
In an earlier XRP price analysis, the prospects of the coin hitting $250 came to the fore, fueled by Ripple whales’ accumulation. In the analysis, the XRP Captain took to X to advise market participants to prepare for the “space journey largest breakout in history.”
He predicted from now to 2026 as the timeframe for this bullish rally.
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