Stablecoin Market Cap on XRP Now Approaching $1B Milestone as RLUSD Adds $383M in 1 Month

The stablecoin market cap on the XRP Ledger is now approaching the $1 billion milestone, driven by RLUSD’s impressive growth on the network.

Amid the recent global push surrounding tokenization trends, the XRP Ledger-based stablecoin market has continued to see impressive growth after gaining traction later than most crypto ecosystems.

Specifically, the stablecoin market cap on the XRPL has hit $907 million, according to leading tokenization platform RWA.xyz, approaching the $1 billion milestone. For context, the stablecoin market on the network was valued at just under $277 million at the start of the year.

RLUSD Contributing to the Growth

Much of this growth comes from the expansion of the Ripple stablecoin, RLUSD, on the XRP Ledger. Notably, when the XRPL-based stablecoin market cap stood at $277 million on Jan. 1, 2026, RLUSD had a valuation of $235 million, representing 84% of the total.

While other stablecoins native to the network have also recorded an impressive growth in valuation, RLUSD has seen the biggest rise since then. 

Today, RLUSD’s market cap on the XRPL has reached a high of $763 million, marking an 84.1% share of the $907 million total XRPL-based stablecoin market cap. This indicates that RLUSD has added about $528 million in valuation year-to-date.

Meanwhile, the USDB stablecoin from Brazilian group Braza has grown from $34 million at the start of the year to $115 million today. This makes it the second-largest stablecoin on the XRPL. 

Also, BBRL, a stablecoin pegged to the Brazilian Real and also issued by Braza, has risen from $2.6 million to $11.6 million within the same period. However, USDC, which launched on the XRPL last June, has declined in XRPL-based value from $9.3 million at the start of the year to $5.6 million today.

RLUSD Growth Trends

Notably, the RLUSD growth comes as Ripple continues to mint more of the stablecoin across the XRPL and Ethereum, its two native networks. This has brought RLUSD’s total market cap to $1.63 billion, making it the eighth-largest stablecoin in the crypto market.

Of this total figure, about $763 million now resides on the XRPL, making up a 46% market share. This represents a massive improvement, as the XRPL market share stood at a meager 17.5% at the start of this year. 

Ripple’s recent RLUSD mints have continued to prioritize the XRPL, including a single-day $200 million deployment last month. As a result of this focus on the XRPL, the RLUSd market cap on the network has grown by $383 million in the past month.

Other XRPL-based Tokenization Metrics 

Meanwhile, besides the stablecoin growth, the XRPL is witnessing growth in other tokenization-centered metrics. For instance, RWA holders have increased 69.57% over the past 30 days to 117 today. Also, stablecoin holders have risen to 59,240, while stablecoin transfer volume in the last month has spiked 81% to $4.83 billion.

Despite the impressive growth in most metrics, some areas have seen declines over the last 30 days. Specifically, distributed tokenized value has dropped 10.83% within this period to $360.25 million, with represented value also dropping 0.30% to $3.67 billion.