RLUSD Growth Leaves XRP Link Unproven Across Multiple Chains

In today’s Ripple news, the company’s stablecoin keeps pulling away from its best-known token. Ripple USD (RLUSD) has reached a market cap of about $2.52 billion, after growing more than 85% in 2026. XRP, meanwhile, trades near $1.51, up 2.1% over 24 hours, but still about 59% below its all-time high of $3.65 set on July 17, 2025. This is more than a story of one Ripple asset outperforming another. The real question is where RLUSD’s supply actually sits. A dollar of stablecoin on Ethereum does not create the same XRP-linked activity as a dollar on the XRP Ledger (XRPL). Market Intelligence: Crypto Analyst Reveals Upcoming Coinbase Listings Where Does RLUSD’s $2.5 Billion Supply Actually Sit? DefiLlama data shows about $1.40 billion of RLUSD on Ethereum and $1.12 billion on XRPL. That means roughly 55% of supply lives outside the XRP ecosystem. Growth is coming from both sides. Over the past month, RLUSD supply on XRPL rose 7.76%, slightly faster than Ethereum’s 6.61%. Over seven days, though, Ethereum led with 3.89% growth against 1.88% on XRPL. Within XRPL, RLUSD holds a dominant position, accounting for roughly $1.2 billion, about 92%, of the ledger’s stablecoin market. That spli...