## Ripple’s RLUSD Stablecoin Reaches $120 Million Supply Milestone
According to data from CryptoQuant, Ripple’s US dollar-pegged stablecoin, RLUSD, has achieved a total supply of $120 million. This accomplishment has been celebrated as a “huge milestone,” especially considering RLUSD’s status as a highly regulated stablecoin.
## XRP Ledger Gains Significant Ground
In a recent report by CryptoQuant’s J.A. Maartunn, it was highlighted that Ripple’s enterprise stablecoin RLUSD has reached a total supply of $120 million, reflecting a surge in adoption. The overall stablecoin supply now stands at approximately $120.8 million. Maartunn noted, “RLUSD grew quickly on Ethereum. However, it has gained more traction on XRPL lately, likely due to the lower transaction fees on the XRP Ledger.”
As of February 17, 2025, the majority of RLUSD’s supply—around $83.4 million—is held on Ethereum, while about $37.4 million is on the XRP Ledger. Despite this, the XRPL has shown significant growth in supply over recent weeks. Conversely, the supply of RLUSD on Ethereum has cooled off after an initial surge following its launch, indicating a shift in demand dynamics.
The analyst attributes RLUSD’s recent success on the XRPL to its notably lower transaction fees compared to the Ethereum network. Additionally, the rapid integration of the token into XRPL’s decentralized finance (DeFi) ecosystem may also be a contributing factor. Maartunn remarked, “In the early weeks, RLUSD grew quickly on Ethereum. However, it has gained more traction on XRPL lately, likely due to the lower transaction fees on the XRP Ledger.” He also expressed optimism about increasing adoption in Europe, stating, “Usage of RLUSD is really catching up! With MiCA regulations leading to USDT delistings in Europe, I expect this trend to accelerate even further!”
RLUSD’s impressive growth follows its regulated trading debut on both the Ethereum mainnet and the XRPL on December 17. Backed by U.S. dollars, U.S. government bonds, and cash equivalents, the stablecoin has been listed on major trading platforms such as Bitstamp, Revolut, Uphold, and CoinMENA, following final approval from the New York Department of Financial Services.
Despite reaching the $120 million milestone, RLUSD still trails behind other established stablecoins in the market. For instance, Circle’s USDC boasts a market cap of $56 billion, while Tether’s USDT leads the pack with a staggering $141.6 billion. As for XRP, it has seen a modest increase of 0.3% over the past day, trading at $2.67, according to Coingecko data.
