XRPL stablecoins surge to $900M, but the breakout trend is not RLUSD
Stablecoin supply on the XRP Ledger has risen to nearly $890 million, up 20.56% in 30 days, even as the global stablecoin market fell 2.31% to $311.39 billion. RLUSD remains dominant on XRPL at $844.6 million, or 94.9% of the ledger’s stablecoin supply, and XRPL now holds about 51.7% of RLUSD’s total supply. A new second issuer is gaining share: Valtorum’s USDV has reached $39.3 million, or 4.4% of XRPL stablecoins, while USDC is only $3.7 million. This makes XRPL an outlier versus Ethereum, where RLUSD supply fell sharply. RLUSD is designed for payments, remittances, treasury, and settlement, while USDV is a permissioned dollar token with issuer-approved participation and reserve coverage still pending attestation. XRPL’s stablecoin growth suggests more dollar liquidity is moving onto the network, but real usage still needs to be confirmed by transfer volume, holder growth, and live reserve proof.
