RLUSD Hits Top 10 Stablecoin Ranking in 2025 – But Still Billions Behind Tether
- How Did RLUSD Achieve Top 10 Status?
- What’s Driving RLUSD’s Adoption?
- Ethereum vs. XRP Ledger: Where’s RLUSD Thriving?
- Why Is XRP Underperforming Despite RLUSD’s Rise?
- Ripple Swell 2025: What to Watch
- FAQs
Ripple’s USD-pegged stablecoin, RLUSD, has cracked the top 10 stablecoins by market cap, surpassing $1 billion just months after its December 2024 launch. While this marks explosive growth (1,278% YTD), it still trails giants like Tether ($183B) and USDC ($75B). The stablecoin’s rise coincides with Ripple’s expansion into OTC services and custody solutions, though questions linger about its long-term utility amid XRP’s stagnant price action. Here’s the full breakdown.
How Did RLUSD Achieve Top 10 Status?
RLUSD, Ripple’s answer to institutional stablecoin demand, hit a $1.02 billion market cap this week—a milestone that took competitors years to reach. According to CoinMarketCap data, its supply is split 80/20 between Ethereum and XRP Ledger, with daily trading volume ($136M) rivaling PayPal USD and Dai. The growth stems from Ripple’s multichain infrastructure and partnerships like GTreasury, but let’s be real: it’s still a minnow compared to Tether’s $183B whale.
What’s Driving RLUSD’s Adoption?
Ripple’s betting big on institutional use cases. Their recent OTC expansion and Palisade acquisition aim to streamline custody for fintechs. "RLUSD and XRP will drive faster, compliant settlement worldwide," Ripple tweeted. But here’s the twist: retail users are flocking too, thanks to integrations with Transak and Xaman wallets. Analyst Paul Barron notes this pits Ripple against Coinbase Prime—a high-stakes game where corporate ambitions might outpace XRP’s actual utility.
Ethereum vs. XRP Ledger: Where’s RLUSD Thriving?
Data from RWA.xyz shows ethereum dominates with 80% of RLUSD supply, but XRP Ledger’s share grew to 20%. Why? Ethereum’s DeFi ecosystem offers liquidity, while XRP Ledger appeals to Ripple’s core banking partners. The dual-chain approach is clever, but it’ll need more firepower to dent Tether’s stranglehold on trading pairs.
Why Is XRP Underperforming Despite RLUSD’s Rise?
XRP dropped 4% amid the RLUSD hype—a head-scratcher until you see the 90% volume spike. At $2.30, traders seem cautious. Some experts (including our BTCC team) suggest Ripple’s focus on RLUSD might dilute XRP’s "bridge asset" narrative. Still, if Swell 2025 unveils fresh banking integrations this week, the tide could turn fast.
Ripple Swell 2025: What to Watch
The New York event (Nov 4-5) features keynotes on tokenized RWAs and regulatory clarity. Monica Long’s fireside chat with Nasdaq’s Adena Friedman could signal deeper traditional finance ties. Meanwhile, Ripple’s custody push hints at a broader play: becoming a one-stop shop for institutional crypto. Not bad for a company that was knee-deep in SEC lawsuits two years ago.
FAQs
How does RLUSD’s growth compare to other stablecoins?
RLUSD’s 1,278% YTD growth outpaces most newcomers, but it’s still 180x smaller than Tether. For context, PayPal USD took 18 months to hit $1B—RLUSD did it in under a year.
What risks does RLUSD face?
This article does not constitute investment advice. Potential risks include regulatory scrutiny (remember USDC’s 2023 depeg scare?) and over-reliance on Ripple’s ecosystem versus organic demand.
Will RLUSD listings expand beyond BTCC?
Likely. BTCC was among the first exchanges to list RLUSD, but Ripple’s Prime service could drive more tier-1 listings in 2026 if liquidity improves.
