XRP Ledger’s stablecoin capitalization reached roughly $1.33 billion on Oct. 3 after rising 14.6% in seven days, according to DefiLlama data. The network added approximately $169 million during the period, moving it close to Avalanche and Plasma in blockchain stablecoin supply rankings.
The growth is heavily concentrated in Ripple’s dollar stablecoin. RLUSD represented roughly 93% of all stablecoin value on XRPL, with about $1.24 billion located on the ledger at the Oct. 3 snapshot. The latest DefiLlama reading puts total XRPL stablecoin capitalization near $1.32 billion, with RLUSD dominance still just over 93%.
RLUSD has become XRPL’s dominant dollar liquidity layer. In June, XRP Ledger overtook Ethereum as RLUSD’s largest network when roughly $801 million of the stablecoin was held there. RLUSD circulation has since surpassed $2.4 billion, backed by more than $2.53 billion in reserves. Ripple says the stablecoin is fully backed by segregated cash and cash-equivalent reserves and redeemable 1:1 for U.S. dollars.
The distinction between Ripple, RLUSD and XRP remains important. RLUSD is a Ripple-issued dollar stablecoin, while XRP is the native asset of the XRP Ledger. On XRPL, RLUSD uses the ledger’s native issued-token infrastructure. Accounts need trust lines to hold the stablecoin, and transactions settle through XRPL itself. Ripple documentation notes that creating an RLUSD trust line also requires an XRP account reserve, creating a connection between stablecoin adoption and XRP network usage—though not every additional dollar of RLUSD creates equivalent demand for XRP.
The expansion reinforces XRPL’s shift beyond payments, with RLUSD, FXRP and native lending increasingly hosting dollar-denominated liquidity alongside traditional XRP settlement activity.
