RLUSD surpasses $1.64B – What are the 2 factors behind the stablecoins rise？

Ripple USD [$RLUSD] has surpassed $1.64 billion in market capitalization, strengthening its position among the largest dollar-backed stablecoins.

The milestone reflects continued supply expansion and adoption since launch, helping $RLUSD establish a clearer gap over smaller competitors.

At press time, its daily trading volume stood at $71.3 million. This implies steady market activity as the stablecoin expands its footprint across payment and settlement networks.

Source: CoinGecko

Tether [$USDT] commands the largest share of the stablecoin market cap, at roughly $186.4 billion, while USD Coin [USDC] trails it, holding nearly $75 billion.

While the milestone reinforces its growing relevance, the difference highlights the networks progress and the scale of the challenge ahead for the native U.S. dollar-pegged stablecoin of the Ripple [$XRP] ecosystem.

$RLUSD pushes beyond issuance-led growth

$RLUSD‘s expansion is increasingly being supported by distribution rather than issuance alone. Ripple’s 15th of June announcement confirmed $RLUSDs launch on Gate.io, introducing $XRP/$RLUSD trading alongside Bitcoin [BTC], Ethereum [ETH], and $USDT pairs.

Source: X

This development broadens access to the stablecoin and creates additional liquidity routes across the $XRP ecosystem. As a result, $RLUSD gains exposure to a larger user base while improving capital movement between digital assets.

Yet, accessibility alone is not enough. Sustained growth in wallet activity, transfer volume, and exchange liquidity will determine whether $RLUSDs expanding reach translates into lasting market relevance.

XRPL adoption strengthens $RLUSDs role

$RLUSD is increasingly becoming a utility-driven stablecoin rather than a supply-growth story. According to DeFiLlama data, it now controls roughly 98% of XRPL stablecoin liquidity, representing about $760 million in value.

As adoption expanded, transfer volume exceeded $26 billion during Q1, while daily transactions regularly surpassed two million. This suggests users are actively moving capital through $RLUSD rather than holding it passively.

Source: TokenTerminal

Meanwhile, Ripples push into enterprise payments is creating a second growth avenue. If institutional settlement activity continues rising, $RLUSD could strengthen XRPL liquidity further.

Still, sustained adoption remains essential for long-term relevance beyond the $XRP ecosystem.

Final Summary

• Ripple USD surpassed $1.64 billion in market value, but deeper liquidity growth remains crucial for sustained expansion.
• $RLUSD is gaining utility across XRPL and payments, though broader adoption will determine long-term market share.