Ripple's RLUSD Surpasses $2B Market Cap on XRP Ledger Growth
Ripple USD (RLUSD)
Editor:
Eugene Serbin
Cvj.ai reports that Ripple’s dollar-pegged stablecoin RLUSD has surpassed a $2 billion market capitalization, with over $1 billion issued on the XRP Ledger. Ripple SVP Jack McDonald announced this milestone, signaling the token's evolution from an exchange asset to settlement infrastructure for tokenized finance. The company aims for RLUSD to serve as the dollar leg of tokenized-asset trading while XRP supports other network activity.
To support this, Ripple has invested in ZILO and Licuido to expand digital financial infrastructure. Data from Whale Factor indicates RLUSD supply on Ethereum surged 93% in 30 days, surpassing XRPL supply. McDonald characterized the $2 billion figure as a checkpoint rather than a finish line for the stablecoin.
Bybit’s Hold and Earn program recently drew over $50 million in deposits within 11 days, prompting a second-stage reward program. Ripple is also pushing lending via Clearpool and Cicada Credit to route RLUSD into loans for fintech companies. A Kenya-based project with MC Social Venture and BlockBima reportedly cut settlement time by 97% and reduced costs by 3,000 times. This growth aligns with broader XRP Ledger infrastructure access accompanying RLUSD’s rollout.
How the market reacted
Whalio's own Binance spot order flow for RLUSD, measured when this story was written up on 2 September 2026. Not the outlet's figures.
Whalio data shows RLUSD trading at $1.00 with a 1-hour buy ratio of 8.2% and a 4-hour buy ratio of 58.8%. The 24-hour buy ratio stands at 47.7%, indicating that buying pressure has weakened significantly over the full day compared to the recent 4-hour surge. Volume delta was negative -$3,036,702 in the last hour and -$2,363,863 over 24 hours, though it was positive +$4,428,382 over the 4-hour window. A negative volume delta means that sell volume exceeded buy volume during those periods, suggesting net outflow from spot buyers. The 24-hour spot volume was $52,170,056 across 3,935 trades, with net buying occurring in only 9 of the last 24 hours.
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, the average buy ratio was 57.6%, which is 9.9 percentage points higher than the latest day's reading. Weekly volume was 0.61 times the average, indicating that trading activity was notably lower than usual for this period. The coin experienced net buying on 5 of the 7 days, with a total volume delta of +$112,101,162 over eight days. This recent 24-hour performance shows a deviation from the weekly norm, with volume dropping to 61% of the average level. The price remained flat at 0.0% change over eight days, despite the positive cumulative volume delta.