RLUSD Supply Rises to $2.4 Billion Amid 6.15% Growth in XRPL Stablecoins
Written with artificial intelligence.
Ripple's RLUSD stablecoin supply has reached approximately $2.4 billion, with the total stablecoin market on the XRP Ledger (XRPL) experiencing a 6.15% increase over the past week. However, no direct correlation to XRP price or demand increases has been established.
Overview of RLUSD and XRPL Growth
Ripple's dollar-pegged stablecoin, RLUSD, has maintained a supply of around $2.4 billion, while the overall stablecoin market on the XRP Ledger (XRPL) has grown by 6.15% in the last week. This increase in supply is noted, but there is no evidence directly linking it to rising XRP prices or increased demand.
Current Supply Figures
As of September 3, the official transparency report from Ripple indicated that RLUSD's circulating supply was $2,395,600,000 (approximately ₩3,250,800,000,000), with reserves amounting to $2,517,700,000 (approximately ₩3,416,500,000,000). RLUSD is backed by US dollars and cash-like assets, issued by Standard Custody, a limited-purpose trust company regulated by the New York State Department of Financial Services (NYDFS). The stablecoin is issued on both the XRP Ledger and Ethereum.
Market Dynamics
CoinMarketCap reported on September 26 that RLUSD's market capitalization is around $2.4 billion, with circulating supply also at approximately $2.4 billion. It is essential to note that different metrics and timestamps may lead to variations in reported figures, with some market trackers indicating a peak around $2.5 billion around September 22. Recent data from DeFi Lama noted that the total stablecoin market cap on the XRPL reached $115,900,000 (approximately ₩157,280,000,000), marking a $67,130,000 (approximately ₩91,100,000) increase, with RLUSD accounting for 92.1% of this.
Implications of the Supply Increase
The increase in stablecoin supply on the XRPL indicates greater liquidity of dollar-pegged assets. However, it is crucial to differentiate between this increase and actual transaction usage. Although RLUSD and XRP can coexist within the XRPL, they serve different functions—the former is intended for maintaining a dollar value for payments, while the latter is used for network liquidity and transactions. The recent launch of RLUSD in Japan, approved by the Japanese Financial Services Agency (JFSA), may have broadened its distribution, but it cannot be conclusively linked to the recent supply increase without further evidence.
Future Monitoring
Going forward, it will be essential to monitor whether RLUSD’s total supply stabilizes around $2.5 billion and if the growth trend in XRPL stablecoins continues. Additionally, the verification of Ripple’s monthly reserve data will be key to understanding these dynamics further.