RLUSD Nears $2B Market Cap
Ripple’s RLUSD stablecoin is on track to hit a $2 billion market cap, with major backers like BlackRock, LIMAX, and Deutsche Bank — and every RLUSD transaction on the XRP Ledger still requires XRP for gas, creating a complex risk for XRP’s utility reported. Market observers warn RLUSD’s growth could erode XRP’s transactional role even as it boosts institutional stablecoin usage.
RLUSD reached a $1.56 billion market capitalization (247wallst.com), recorded roughly 515,000 on‑chain transactions (247wallst.com), and posted about $3.5 billion in adjusted volume over the past 30 days (247wallst.com). BlackRock is using RLUSD as a redemption mechanism for its BUIDL tokenized fund (coindesk.com). Ripple announced a $150 million strategic injection into LMAX to embed RLUSD as core collateral and 247WallSt cites Deutsche Bank’s integration plus SBI’s Q1 2026 rollout supporting institutional rails for RLUSD (okx.com). XRPL network metrics show daily payments near 2.7 million and almost 27,000 AMM pools (coindesk.com); those AMM pools collectively hold about 12 million XRP while stablecoin transfer volume on XRPL reached roughly $1.19 billion in the same window (circlo.io). Market‑data providers diverge on RLUSD sizing: CoinGecko lists a $1.562 billion market cap with total supply ~1,562,628,408 tokens (coingecko.com), while OKX shows a $1.08 billion market cap with a 1,000,000,000 circulating supply and $72.4 million DEX liquidity (okx.com).
