RLUSD Market Cap Hits $2.5 Billion Amid Supply Expansion
Ripple USD (RLUSD)
Editor:
Eugene Serbin
Digitaltoday.co.kr reports that Ripple’s stablecoin RLUSD has surpassed $2.5 billion in market capitalization. Blockchain media outlet Decrypt noted that Ripple issued $790 million of RLUSD over the past 30 days on Ethereum and the XRP Ledger. This valuation places the asset eighth in the market, up from $2.369 billion a month earlier.
Supply expansion accelerated after mid-September, with an additional $419 million released since September 17. Daily issuance saw spikes on September 21 and September 25, reaching $76.3 million and $130.3 million respectively. However, Ripple also burned $638 million of RLUSD over the same period, resulting in a net supply growth of $152 million.
Ethereum currently holds a larger total supply at $1.396 billion compared to the XRP Ledger’s $1.124 billion. Despite Ethereum’s lead in total supply, the XRP Ledger captured more issuance recently, with about $470 million allocated there versus $315 million on Ethereum. Burning was also heavier on the XRP Ledger, with $395.7 million burned compared to $242.3 million on Ethereum. This adjusted net supply growth of about $72 million on both networks supports RLUSD’s push to enter the top five stablecoins.
How the market reacted
Whalio's own Binance spot order flow for RLUSD, measured when this story was written up on 1 October 2026. Not the outlet's figures.
Whalio data shows RLUSD trading at $1.00 with a 24-hour buy ratio of 75.2%, indicating strong sustained buying pressure. This contrasts with the 1-hour buy ratio of 44.4%, suggesting that immediate short-term momentum has cooled compared to the daily trend. The 4-hour buy ratio sits at 79.3%, reinforcing that buying interest remains robust over a slightly longer timeframe. Volume delta data reflects this divergence, with a positive $30,049,761 over 24 hours but a negative $3,868 in the last hour. The volume delta measures the net difference between buy and sell volume, so positive figures indicate net buying pressure while negative figures show net selling. The 24-hour cumulative volume delta (CVD) closed at +$19,870,664, confirming that buyers have dominated the session overall.
The latest daily buy ratio of 39.6% sits at the 19th percentile of the last 267 days, against a median of 52.6% - weaker buying than most days.
Was that an ordinary day?
The same Binance spot measurements for RLUSD, averaged over the days leading up to the story.
Over the preceding week, RLUSD maintained a consistent buy ratio average of 62.5% across seven days of net buying. The latest 24-hour buy ratio of 75.2% is 12.7 points higher than this weekly average, marking an unusually strong day for buyers relative to the recent norm. Spot volume for the day was $59,621,406, which is exactly 1.00 times the weekly average, indicating normal trading activity levels. This suggests that while volume is typical, the intensity of buying has spiked significantly above the recent baseline. The coin has seen net buying for all seven days of the preceding week, with a total volume delta of +$129,670,560 over that period.