Ripple (XRP) Has Quietly Experienced Incredible Growth in One Area—Latest Data Released

Ripple’s stablecoin $RLUSD has reached a new market capitalization high, with growth exceeding 86% since the beginning of the year. According to current data, the circulating supply of $RLUSD has risen to approximately $2.49 billion. The stablecoin’s market capitalization was around $1.33 billion at the beginning of 2026. Thus, $RLUSD has recorded growth of over 86% since the start of the year.

The market capitalization gap between $RLUSD and $PYUSD, issued by PayPal, is also rapidly closing. $PYUSD currently has a market capitalization of approximately $2.73 billion, reducing the difference between $RLUSD and $PYUSD to around $248 million.

Data from the past week has revealed differing trends between the two stablecoins. While the supply of $RLUSD increased by approximately $112 million, the supply of $PYUSD decreased by approximately $61 million. $PYUSD started 2026 with a supply of approximately $3.531 billion and peaked at $4.214 billion on March 5th. The stablecoin’s supply has declined by approximately 35 percent since that peak.

In terms of $RLUSD distribution across networks, both $XRP Ledger and Ethereum saw growth. Between September 21-28, the $RLUSD supply on $XRP Ledger increased from $1.036 billion to $1.099 billion, an increase of approximately $63 million. Similarly, the $RLUSD supply on Ethereum rose from $1.343 billion to $1.39 billion during the same period, an increase of approximately $49 million.

Currently, approximately 44% of the total $RLUSD supply is held on the $XRP Ledger, while 56% is held on Ethereum.

While the total size of the global stablecoin market is approximately $306 billion, $RLUSD’s market share remains relatively low. However, Ripple has recently accelerated its efforts to increase the use of $RLUSD, particularly on the $XRP Ledger.

*This is not investment advice.