Ripple’s regulated stablecoin, RLUSD, has surpassed a total supply of $120 million, marking a significant milestone.
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According to CryptoQuant analyst Maartunn, its growth on the XRP Ledger has outpaced Ethereum, where adoption has slowed. The XRP Ledger currently holds 37.4 million RLUSD, while Ethereum remains below 83.3 million. The shift is largely attributed to lower transaction fees on XRPL, making it a more attractive option for stablecoin transactions.
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Initially, RLUSD saw faster growth on Ethereum, but interest has since shifted toward XRPL. Maartunn predicts further adoption, particularly in Europe, where MiCA regulations have led to USDT delistings.
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Recent data shows RLUSD transaction volume has risen sharply, with over 160,000 cumulative transactions and daily counts exceeding 600 in February.
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Since launching in December with regulatory approval, RLUSD has expanded to platforms like Bitstamp, Revolut, and Zero Hash. Ripple’s continued token minting suggests further supply growth, but RLUSD still lags behind major stablecoins like USDC and USDT, which dominate the market.
