NEWS
XRP Ledger Stablecoin Market Cap Hits $1.159B as RLUSD Takes 92%
Stablecoins on the XRP Ledger have reached a combined market cap of $1.159 billion — and it's overwhelmingly a one-horse race. Ripple's RLUSD accounts for $1.067 billion of that total, or 92.1%.
The more striking number is on the other side: USDC on XRPL is down 22% month over month. On most chains USDC is the default dollar; on XRPL, Ripple's native stablecoin is absorbing the liquidity instead.
Why it matters: chain-level stablecoin dominance shapes which rails developers build on. XRPL is becoming an RLUSD chain — payments, DeFi, and institutional flows there will increasingly price in Ripple's dollar, not Circle's.