Ripple: RLUSD market cap on Ethereum hits record high
The market capitalization of Ripple’s RLUSD stablecoin on Ethereum has reached a new record of about $294 million.
The market capitalization of Ripple’s RLUSD stablecoin on Ethereum has reached a new record of about $294 million. That puts the $300 million mark within reach. For comparison: in early March 2025 this figure was only $80 million, a sizable jump in a relatively short period.
RLUSD is currently available on both Ethereum and the XRP Ledger. It’s especially beneficial on the latter, where XRP is used to settle transaction fees, and those fees are burned, which could be deflationary for the coin over time. On Ethereum, that works differently: the ETH transaction fees are burned, so XRP doesn’t directly benefit from RLUSD’s success on that network.
Since January 2025 RLUSD has also been available on the Root Network via a bridge, and rumors suggest Ripple is in talks about a possible integration with Cardano.
Across all blockchains, RLUSD’s total market cap now stands at $382 million. Yet the Ripple alternative remains in the shadow of two giants: Tether’s USDT (well over $155 billion) and Circle’s USDC (more than $61 billion). Circle recently got a boost on the market: its stock price surged after a successful IPO led by CEO Jeremy Allaire. Ripple previously eyed acquiring Circle, but that bid went nowhere.
The U.S. government views stablecoins like RLUSD as a strategic tool to strengthen the dollar’s international dominance. In Europe, concerns are growing. A recent Digital Euro Association study says the dominance of stablecoins like USDT and USDC could threaten the eurozone’s monetary sovereignty.
Meanwhile, Ripple keeps pushing with new moves. Chinese AI company Webus announced it wants to build an XRP reserve. Ripple, with DZ Bank, is also working on an advanced platform for storing and processing tokenized bonds and digital assets.
Despite RLUSD’s growth, investors still have one burning question: what does all this mean for XRP’s price? The coin is lagging in performance for now, but the underlying developments behind the scenes could eventually move the needle.
