XRP Takes a Hit? Ripple Drives Ethereum Stablecoin Supply Toward Record High
TL;DR
- Ripple has minted another $50 million in RLUSD on Ethereum, lifting the stablecoin’s total supply close to $1.63 billion.
- Ethereum and the XRP Ledger now hold nearly equal shares of RLUSD, with only about $5.7 million separating them. The shift does not necessarily weaken XRP.
- Instead, it shows Ripple is expanding RLUSD across multiple networks to reach deeper liquidity and institutional users.
XRP is facing a fresh question about its role in Ripple’s expanding payments ecosystem as RLUSD supply on Ethereum moves closer to the level held on the XRP Ledger. Ripple recently minted $50 million worth of RLUSD on Ethereum, pushing total circulating supply to roughly $1.63 billion.
The latest issuance highlights how quickly Ripple’s dollar-backed stablecoin is becoming a multichain asset. Rather than relying exclusively on its own ledger, Ripple is using Ethereum’s established liquidity infrastructure to broaden access to RLUSD and connect the asset with a much larger decentralized finance market.
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