Ripple's RLUSD Stablecoin Surpasses $1 Billion Market Capitalization

Ripple's stablecoin, RLUSD, has recently achieved a remarkable milestone by surpassing a market capitalization of $1 billion for the very first time. This places RLUSD as the 11th largest stablecoin globally.

Key Takeaways

Ripple's RLUSD stablecoin has exceeded $1 billion in market cap for the first time.
It is currently the 11th largest stablecoin, trailing behind notable competitors.
Tether remains the largest stablecoin with a market cap of $183 billion.
Despite a recent decline in the overall stablecoin market, RLUSD has seen significant growth in trading volume and user adoption.
Integrations with various platforms are boosting RLUSD's visibility and utility.

Ripple's RLUSD stablecoin surpasses $1B market cap

RLUSD Achieves $1 Billion Milestone

Ripple’s stablecoin, RLUSD, has seen its market capitalization soar to $1.025 billion, marking a historic moment in its journey. Launched less than a year ago, RLUSD managed to achieve this significant milestone remarkably quickly.

As reported by DeFi Llama, RLUSD now ranks as the 11th largest stablecoin by market cap, positioned below competitors such as Ethena USDe, Falcon, Blackrock, and PayPal USD. However, platforms like CoinMarketCap rank RLUSD within the top 10 USD-backed stablecoins.

While this achievement places RLUSD in a competitive position, it still has much ground to cover to compete with the leading stablecoins in the sector. Tether continues to dominate with a staggering market cap of $183 billion, accounting for nearly 60% of the total stablecoin market trading value. Following Tether, Circle's USD Coin (USDC) holds $74.6 billion, while Ethena’s USDe stands at $9.06 billion.

Recent Trends in the Stablecoin Market

Despite recent institutional adoption of stablecoins from banks and financial entities, the market itself has been experiencing a slight downturn. Over the past week, the total stablecoin market cap has decreased by approximately $2.47 billion, representing a 0.80% decline, which could indicate a cooling trend.

However, amid this broader market decline, RLUSD is thriving. As of November 5, the trading volume for Ripple USD surged by 82.5% compared to the previous day, reaching $276 million. Its rising market cap can be attributed to growing integrations with various ecosystems and partnerships with institutional players.

Factors Driving RLUSD's Growth

When RLUSD launched, it was primarily aimed at institutional investors. However, it has gained significant traction among retail users, thanks to collaborations with platforms like Transak and increasing availability in self-custody wallets such as Xaman.

Data from RWA.xyz indicates that RLUSD's market cap has risen nearly 30% compared to the previous month, with a notable increase of 3.09% in the number of RLUSD holders. As of November 2025, there are 38,201 active addresses, with 4,741 being used on a monthly basis.

RLUSD has mostly been issued on the Ethereum chain | Source: RWA.xyz

A significant portion of RLUSD's circulation is on the Ethereum network, which accounts for about 80% of its total supply—approximately $816.5 million—while the XRP Ledger holds around 20%, equating to about $202.8 million.

In a recent development, Chicago-based derivatives exchange Bitnomial announced it will support Ripple USD by accepting the asset for margin collateral and deposits. This makes Bitnomial the first regulated U.S. exchange to allow stablecoins for margin requirements, and it is overseen by the Commodity Futures Trading Commission.

In conclusion, Ripple's RLUSD is making waves in the stablecoin market with its impressive growth and expanding reach. As the ecosystem evolves, it will be interesting to see how RLUSD manages to carve out its space amidst established competitors.