Ripple USD (RLUSD) tightened its hold on the XRP Ledger’s stablecoin stack on Friday, Sept. 25, 2026: DefiLlama data cited by The Crypto Basic and Blockonomi put the ledger’s tracked stablecoin market capitalization near $1.159 billion after a $67.12 million weekly gain (~6.15%), with RLUSD alone near $1.067 billion — about 92.1% of the total.

RLUSD’s roughly 11.55% rise over 30 days outpaced the broader XRPL stablecoin market’s about 9.8% monthly increase, pointing to concentration in Ripple’s dollar token rather than a broad multi-issuer boom.

USDC and others lag on XRPL

USDC’s tracked XRPL market capitalization fell about 21.86% over 30 days to roughly $4.62 million, even after a short-term weekly bounce of about 6.71% that edged RLUSD’s ~6.69% seven-day gain. Other tracked XRPL balances also slipped monthly: Valtorum USD about −7.03% to ~$72.8 million, and EUR CoinVertible about −2.37% to ~$11.4 million — figures that cover XRPL balances only, not multi-chain totals.

Those divergences do not prove holders swapped USDC (or anything else) into RLUSD. Chain market-cap snapshots do not show counterparty identity or the transaction paths behind the balance changes.

Stablecoin size ≠ XRP buying

RLUSD targets a one-dollar redeemable peg with cash and cash-equivalent reserves, per Ripple, and is issued on XRPL and Ethereum — so the XRPL slice is only part of circulation. Intended uses include payments, settlement, and treasury flows. XRP remains the ledger’s native asset with a market-set price; a larger stablecoin float on XRPL is not, by itself, evidence of equivalent XRP purchases or confirmed institutional ticket flow. Not investment advice.

Sponsored

High Noon Solar

Solar for Colorado’s Western Slope

Sales, install, and service out of Grand Junction since 2005.

Learn more

Sources