Ripple’s RLUSD stablecoin posted a $128.6 million increase in market capitalization over 24 hours, outpacing USDe by Ethena as institutional interest in stablecoin solutions continues to build. The surge was highlighted in a widely shared post from @RWAFoundation_ and arrives as Binance restores withdrawals for RLUSD and several other dollar-backed tokens on Ethereum after a massive security incident.
XRP Ledger Foundation executive Vet addressed the comparison between XRP and RLUSD, arguing that the two assets serve complementary purposes rather than competing for the same role. In a post on X, Vet said “RLUSD is optional. XRP isn’t.” He explained that Ripple issues RLUSD under US regulations and can freeze tokens under certain circumstances, while XRP has no central issuer and cannot be frozen.
Vet detailed XRP’s mandatory functions on the XRP Ledger: every account must hold an XRP reserve, transaction fees are paid in XRP, and the network’s decentralized exchange can route cross-currency transactions through XRP when that provides better conversion rates. This allows XRP to connect liquidity across different assets without requiring direct trading pairs. RLUSD, by contrast, offers price stability for businesses handling payroll, invoices, and operational expenses, while XRP attracts traders and liquidity providers willing to manage volatility.
Binance began restoring withdrawals on November 1 for major assets including Bitcoin, Ethereum, and XRP after an estimated $6.3 billion theft on October 29 disrupted services. On November 3, the exchange expanded support to include RLUSD, USD1, TUSD, FDUSD, and XUSD on Ethereum, with further assets to be added in phases following security checks.
RLUSD’s expanding exchange availability does not remove XRP’s native network functions. Vet emphasized that wider stablecoin adoption could increase XRP Ledger activity while XRP retains its essential role in network operations, liquidity, and decentralization.
