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According to the data provided by Ripple Stablecoin Tracker, Ripple has minted another 10 million $RLUSD on the $XRP Ledger.
According to the data provided by CoinGecko, the market cap of $RLUSD currently stands at $1.26 billion.
Steady minting
On Oct. 22, the treasury executed a substantial mint of 24.5 million $RLUSD. Just six days later, on Oct. 28, another 5 million $RLUSD entered circulation, followed within three days by an even more notable issuance: 36 million $RLUSD on Oct. 31.
November took that trajectory and pulled it sharply upward. On Nov. 3, Ripple minted a massive 50 million $RLUSD, coinciding with the moment $RLUSD officially crossed the $1 billion market cap threshold across Ethereum and the $XRP Ledger.
The activity didn’t taper off. On Nov. 19, an additional 2 million $RLUSD was minted. And most recently, on Nov. 25, the treasury produced a large 15 million $RLUSD mint.
Moving up the rankings
Ripple’s $RLUSD has quietly but decisively slipped into the stablecoin big league.
With a market cap of roughly $1.25 billion, it now sits in the same statistical neighborhood as long-established mid-tier dollar tokens.
The global stablecoin landscape is brutally top-heavy: USDT and USDC dominate with a combined $260 billion in capitalization.
There is also a second tier of multi-billion-dollar entrants (USDS, Ethena’s USDe, DAI, PYUSD) that are perceived as formidable competitors.
$RLUSD has not yet joined that second tier, but it now anchors the very top of the third tier. At rank #84, it has overtaken dozens of legacy stablecoins that once defined the market’s mid-section, including TUSD, GUSD, and USDD.
$RLUSD is now positioned as the 12th-largest USD stablecoin globally.