XRP vs. XLM: XRPL Overtakes Stellar In Stablecoin Supply As RLUSD Gains Momentum

The XRP Ledger has overtaken Stellar in the stablecoin race with further growth in Ripple USD (RLUSD). This change spotlights with the increasing activity of stablecoins on XRP and the growing demand for Ripple’s stablecoin.

XRP Ledger Outpaces Stellar In Terms of Stablecoin Supply

According to DeFiLlama, XRP Ledger has a total stablecoin supply of $1.092 billion, ranking it 12th in the blockchain networks. Number-one ranked Steller is ranked 13th with $968.67 million. XRPL’s supply has increased by 14.29%, while the supply of Stellar has declined by 5.87%.

Over the past week, XRPL’s stablecoin supply increased about 13%. During the same period, Stellar’s decline was 6.5%. Not only that, XRP price exploded 20% and outshined XLM price during the recent crypto market rally.

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The vast majority of XRP Ledger’s supply of stablecoins comes from RLUSD. According to the data, it makes up 90.49% of the total network. This puts RLUSD supply on XRPL at above $988 million.

In the case of supply, Ethereum still leads XRPL by a notable margin in terms of their RLUSD supply. In the past, XRP Ledger had outpaced Ethereum in RLUSD supply but the latter has since returned as the leader. As of the time of this writing, there are approximately $1.08 billion worth of RLUSD on Ethereum and $988.36 million worth of XRPL on the XRPL.

RLUSD Takes The Spotlight Again

RLUSD has also surpassed the $2 billion market cap milestone. This puts it just a little further away from PayPal USD, which has a market value of approximately $2.87 billion. For context, RLUSD was founded by Ripple in December 2024. Hence, XRP Ledger validator Vet declared it “the fastest growing stablecoin regulated under the NYDFS.”

The stablecoin’s growth is occurring as Ripple advances on institutional credit markets. Ripple is also involved in a new endeavor to provide RLUSD loans to fintech and payments companies on XRPL with Clearpool and Cicada Partners.

Cicada will recruit borrowers and set up the parameters of the loan. Clearpool is building out the lending platform. Ripple will be funding the development.

This protocol is still being developed. XRP is still used for transaction fees and account balances on the XRPL. RLUSD is created to be used and liquidated in the ecosystem with dollars.