The supply of Ripple USD (RLUSD) has grown more than 30% to a market capitalization above $2 billion as Tether (USDT) slipped 0.4%, adding liquidity while XRP (XRP) tests its recent breakout.
Key Points:
- RLUSD supply rose more than 30% in a month while USDT declined 0.4%.
- RLUSD now exceeds $950 million on the XRP Ledger and represents more than 90% of the network’s stablecoin supply.
- XRP gained more than 53% before a 6% pullback, while over $1.18 billion in longs were liquidated on Bitfinex.
RLUSD Supply Growth
RLUSD’s market capitalization has moved above $2 billion, with DeFiLlama data showing the stablecoin leading capital flows across several timeframes. That monthly increase also beat the other 11 leading stablecoins.
On the XRP Ledger, RLUSD supply now exceeds $950 million, accounts for more than 90% of stablecoins on the network and has risen more than 8% over seven days.
That concentration gives the ledger a larger pool of stable liquidity. On Ethereum (ETH), by comparison, RLUSD represents only 0.7% of stablecoin supply.
The liquidity increase has coincided with stronger relative performance for XRP against Ethereum, with the XRP/ETH ratio gaining more than 17% last week. It was the ratio’s best weekly result since the start of the Q1 2025 cycle.
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XRP Liquidity Test
XRP rose more than 53% on the weekly chart and moved through the $1.50 resistance area before pulling back about 6% this week. Leverage also unwound quickly. The reversal reinforced resistance near $1.50, with more than $1.18 billion in XRP longs on Bitfinex liquidated.
The combination of rising RLUSD supply and cooling leverage could give the XRP Ledger more liquidity to absorb selling pressure after the breakout.
Continued supply growth would strengthen the case for XRP to retest $1.50, although current data does not establish that the level will be reclaimed.
The XRP/ETH ratio has opened the week lower, so the latest decline could still develop into a broader reversal rather than a temporary reset. Last week’s 17% ratio gain followed XRP’s 53% breakout, making the next test a measure of whether expanding RLUSD liquidity can persist after profit-taking and leverage unwinding.
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