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Is XRP Being Displaced by Ripple USD Now?

Ripple Labs had big plans: the global payments revolution through their digital currency XRP.

By Mike Hesp
• 2 min read
Is XRP Being Displaced by Ripple USD Now?

Ripple Labs had big plans: the revolution of global payments through their digital currency XRP. It needed to be fast, scalable, and cheap, and thus a substitute for the bulky SWIFT system. But View post on X BitGo-CEO Mike Belshe has since seen that dream fade.

At Digital Banking 2025, Belshe left no room for doubt: the launch of Ripple's own stablecoin RLUSD (Ripple USD) shows, in his view, that XRP has failed as an international bridge currency. His verdict is blunt: "USD stablecoins are simply better."

The critique comes at a notable moment. RLUSD is gaining ground fast and is now approaching a market cap of $500 million. Meanwhile, XRP continues to push adoption efforts, but according to Belshe the fundamental setup is problematic. The two-step conversion of XRP would make payments less efficient and more error-prone than necessary. "Transactions are less robust as a result," the executive said.

Belshe is clear about his outlook: stablecoins will dominate international payments. He cites USDT and USDC as examples of smooth, reliable infrastructure: "It just works. Super simple. Peer-to-peer, but also peer-to-intermediary — exactly what's needed for global adoption."

Meanwhile, rumors are buzzing about a possible Ripple IPO. According to a former executive, the company could raise as much as $30 billion, making it one of the largest crypto IPOs ever.

The question remains: will XRP stay relevant in Ripple's new era, or has the stablecoin quietly taken the throne?

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