RLUSD stablecoin supply on Ethereum jumps 93%, surpassing XRP Ledger for the first time in 2026 - Pluang

The supply of Ripple’s RLUSD stablecoin on Ethereum has grown sharply, climbing 93% and overtaking the amount held on the XRP Ledger for the first time in 2026. This shift marks a notable milestone for the token, which was designed to operate across multiple blockchain networks from its launch.

RLUSD is a USD-pegged stablecoin backed by cash and cash equivalents. While the XRP Ledger serves as its native home, Ethereum’s deep pool of decentralized finance applications offers broader utility for lending, trading, and yield generation. The increase in Ethereum supply suggests that market participants are actively deploying RLUSD into Ethereum-based liquidity pools and protocols, rather than simply holding it.

For the broader market, this rebalancing highlights how stablecoin issuers and users prioritize network liquidity over a token’s original chain. It also underscores the growing interoperability of digital assets. Investors should watch whether this trend continues, as sustained growth could signal deeper integration of RLUSD into Ethereum’s DeFi ecosystem—and potentially influence how other cross-chain stablecoins allocate their supplies.