Ripple’s RLUSD stablecoin has reached a new supply milestone, with its circulating amount approaching $2.5 billion as of September 22. The surge is attributed to an increase in the number of stablecoin deposits on the XRP Ledger, which suggests that there are more dollars flowing through Ripple’s blockchain network.
XRP was trading around $1.57 at the time of writing, with recent sessions showing the token testing the $1.60 area. From the available market history, the token has already tested the $1.62 mark on September 25 after crossing the $1.50 level in the earlier part of the week.
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RLUSD Supply Approaches $2.5 Billion
The latest milestone in RLUSD’s supply comes after Ripple reached the circulation level of $2 billion in August. Depending on which tracker the user looks at, the supply of the stablecoin can be estimated at around $2.4 billion to $2.5 billion. According to Ripple’s own transparency page, there was $2.3956 billion worth of RLUSD in circulation on September 3, alongside $2.5177 billion worth of reserve funds.
The increase represents a growth in the amount of dollar-backed tokens circulating across supported networks rather than an increase in RLUSD’s individual price. According to Ripple, RLUSD is meant to hold a stable value of one U.S. dollar and is collateralized by cash and cash equivalents held in segregated reserves.
Furthermore, the supply increase can also be seen as part of the overall development of Ripple’s stablecoin ecosystem. While RLUSD is natively issued on the XRPL and Ethereum networks, Ripple increased its availability through different blockchain networks.
XRP Ledger Stablecoin Supply Expands
Stablecoins on the XRPL have also seen some growth. According to the data reported, the current total supply of stablecoins on XRPL sits at about $1.19 billion, marking growth of around 6% from the last seven days. RLUSD accounts for roughly $1.1 billion of this figure, meaning that Ripple’s stablecoin has become the biggest dollar asset on the network.
That concentration is significant because it shows how closely RLUSD’s expansion is linked with XRPL activity. This does not mean, however, that all tokens of RLUSD create demands for XRP. XRP is the native cryptocurrency of the XRPL, whereas RLUSD is just a dollar-denominated token that operates on the ledger.
As a consequence, Ripple separates those functions when designing stablecoins. RLUSD gives users a chance to get a digital representation of the U.S. dollar, whereas XRP is needed in order to use network fees and other features of the XRPL. Thus, increased supply of RLUSD may be considered a sign of liquidity growth of stablecoins.
This is happening amid ongoing efforts of Ripple to provide institutional access to RLUSD. Ripple’s transparency disclosures reveal that Standard Custody & Trust Company, which serves as an issuer of this stablecoin, is a regulated limited-purpose trust company in New York. In addition, Ripple regularly releases independent attestations regarding RLUSD circulation and reserve assets.
Institutional Use Remains Key Driver
The company has oriented RLUSD in connection with real-time payments, fiat to stable coin exchange, and financial operations in the institution. The company has its own Ripple Mint that allows eligible clients to have a platform to mint and redeem the stable coin. This way, the institution will have the chance to directly manage the RLUSD without depending on the secondary market liquidity.
As the supply is increasing, the supply can help the XRPL to provide more dollar liquidity that can be used in the transactions done in the network. Payment providers and financial institutions can benefit from having access to a regulated stable coin that will help them avoid switching between banking rails and other digital assets in the process of settlement.
The increase in the supply cannot necessarily indicate that the payment volume of RLUSD has reached the same point. Supply reflects how many tokens exist while transaction activities show how often the tokens are moved and utilized in the settlement process.
XRP Holds Near Key Resistance
The RLUSD expansion comes as XRP remains near a technically important price area. Analyst Diana highlighted XRP’s repeated rejection around $1.61 and noted that the token was holding near $1.55 in the referenced post. The analyst also identified 1.50–1.48 as an immediate support zone and pointed to $1.61 as resistance.
Recent market data shows XRP reached an intraday high above $1.60 on September 25 before remaining near the $1.57 area. The technical setup therefore provides additional market context, but it remains separate from RLUSD’s supply growth and does not establish a direct relationship between the two assets.
For investors following the XRP ecosystem, the main takeaway is the continued expansion of dollar liquidity alongside the XRPL. RLUSD’s supply milestone shows that Ripple’s stablecoin has moved well beyond its earlier $2 billion level, while XRPL data indicates that more than $1 billion of stablecoin value is now concentrated in RLUSD.
The next developments to watch include future RLUSD reserve attestations, changes in circulating supply and whether stablecoin balances on the XRPL continue to expand. XRP’s ability to hold above the $1.50 area and challenge $1.61 will remain a separate market indicator. Together, these data points will show whether network liquidity and market activity continue strengthening.
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This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
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