KeyTakeaways:
- RLUSD surpasses 120M tokens, with strong growth on XRP Ledger.
- RLUSD’s lower fees boost adoption on XRP Ledger over Ethereum.
- RLUSD enhances XRP liquidity, supporting price and market momentum.
Ripple USD (RLUSD), the stablecoin launched on Ethereum and XRP Ledger (XRPL), has now surpassed 120 million tokens in circulation. This move comes just two months after the stablecoin’s launch, highlighting its rapid adoption and expanding use case within the blockchain community. The growth of RLUSD has been particularly notable on the XRP Ledger, where it has gained significant traction, outpacing its performance on the Ethereum network.
According to blockchain analytics firm CryptoQuant, RLUSD has seen a growth on the XRP Ledger. Initially, the stablecoin gained attention on the Ethereum network, but recent trends indicate a shift toward the XRP Ledger.
This shift can be attributed to the network’s lower transaction fees, which make it a more attractive option for minting and transferring RLUSD tokens. Currently, RLUSD’s supply of XRP Ledger has reached approximately 37.4 million tokens, surpassing Ethereum’s 83.3 million tokens.
Various integrations and listings, including the high-leverage trading platform Margex and the NYDFS-regulated Zero Hash, have further supported the XRP Ledger’s adoption of RLUSD. These collaborations fuel the stablecoin’s growing presence in mainstream finance, with RLUSD also going live on the popular trading platform Revolut earlier this year.
Stablecoin’s Role in XRP’s Liquidity and Market Dynamics
The expanding liquidity of RLUSD is having a positive impact on the price of XRP. The increased use of RLUSD on the XRP Ledger is helping to sustain XRP’s price, which currently stands at $2.64.
Ripple whales, known for their significant influence in the market, have accumulated XRP, further contributing to the coin’s upward momentum. The increased liquidity tied to RLUSD could play a role in XRP’s potential long-term price rally as it continues to benefit from the stablecoin’s growth.
RLUSD’s Impact on Ripple Ecosystem and Tokenization Agenda
Ripple’s growing focus on Real-World Assets (RWA) tokenization has been a key factor in RLUSD’s success. Ripple has formed various partnerships aimed at driving the tokenization of real-world assets, and RLUSD is an integral part of this strategy.
The expansion of RLUSD’s supply and its increasing presence on the XRP Ledger signals the continuing development of Ripple’s ecosystem, with the stablecoin serving as a crucial bridge to a broader range of financial applications.
