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According to the Ripple stablecoin tracker website, Ethereum has now overtaken the $XRP Ledger in $RLUSD supply.
Based on current data supplied by the page, $RLUSD circulating supply on the $XRP Ledger is now $941.36 million, which has been surpassed by that of Ethereum, which is $989.34 million.
The change comes as Ripple continues to adjust $RLUSD liquidity across its supported blockchain networks. Specifically, the last 24 hours have seen more $RLUSD minted on Ethereum than on the $XRP ledger, with larger activity in favor of the former (Ethereum).
On August 20, $73.8 million $RLUSD was minted on ethereum with $23.5 million burned. On August 21 so far, $53.2 million $RLUSD was minted on Ethereum with $15 million burned.
This surpasses $XRP Ledger, which saw $36.1 million $RLUSD minted on August 20 and $15.4 million $RLUSD burned in this timeframe. So far on August 21, $12.5 million $RLUSD was minted on the XRPL and $6.5 million burned.
Ripple stablecoin tracker X account details some of these transactions over the last 24 hours.
🔥🔥🔥🔥🔥🔥🔥 10,000,000 $RLUSD burned at $RLUSD Treasury.https://t.co/7ZgIVCGFXE
— Ripple Stablecoin Tracker (@RL_Tracker) August 21, 2026
In recent hours, two transactions of 25,000,000 $RLUSD and 20,000,000 $RLUSD minted on Ethereum were reported, while 10,000,000 $RLUSD was burned on the blockchain. One transaction of 10,000,000 $RLUSD minted on $XRP Ledger was reported. Another three transactions of 20,000,000 $RLUSD, 14,000,000 $RLUSD and 16,000,000 $RLUSD minted on Ethereum were reported within the last 24 hours.
$RLUSD nears $2 billion in circulating supply
With the ongoing activity, the $RLUSD total circulating supply is fast approaching the $2 billion milestone, currently at $1.93 billion according to the Ripple stablecoin tracker page. The current figure of $1.939 billion in total circulating supply marks an all-time high for the Ripple USD ($RLUSD) stablecoin, which launched in December 2024.
$RLUSD was launched with support for both the $XRP Ledger and Ethereum, allowing its access across two major networks.
In June, the $XRP Ledger surpassed the Ethereum blockchain in $RLUSD circulating supply for the first time. Now, a recent supply shift has flipped this tide, and the $XRP community is watching what comes next.