Ripple’s RLUSD Stablecoin Surpasses 120M Supply: XRP Ledger Adoption Emerges as Key Growth Driver

The Ripple USD (RLUSD) stablecoin, a dual-chain asset operating on both Ethereum and the XRP Ledger (XRPL), has achieved a critical inflection point with its circulating supply surpassing 120 million tokens.

This milestone, reported by Kryptorevolution, underscores accelerating adoption of Ripple’s dollar-pegged instrument and highlights the XRPL’s growing competitiveness in decentralized finance infrastructure.

• Key Milestone: Ripple’s cross-chain stablecoin RLUSD has reached a total supply of 120 million tokens, with the XRP Ledger (XRPL) now dominating its growth trajectory over Ethereum.
• Market Impact: Rising XRPL-based RLUSD liquidity could structurally benefit XRP’s valuation by enhancing utility in tokenized asset markets and payment ecosystems.

XRP Ledger Outpaces Ethereum in RLUSD Utilization

While RLUSD initially gained traction on Ethereum, recent analytics reveal a decisive shift toward the XRP Ledger.

Approximately 37.4 million RLUSD tokens now circulate on XRPL (31% of total supply), compared to 83.3 million on Ethereum – a redistribution reflecting XRPL’s operational advantages.

Transaction fees serve as a primary catalyst: XRPL processes payments at $0.0002 per transaction versus Ethereum’s average $1.82 gas fees during peak congestion. This 9,000x cost differential positions XRPL as a pragmatic settlement layer for high-frequency stablecoin transfers, particularly in cross-border payments and microtransactions.

The migration aligns with Ripple’s strategic listings on institutional platforms like Revolut and Margex, which now support XRPL-native RLUSD liquidity pools. By reducing friction for enterprises to hold and settle in RLUSD, these integrations amplify the stablecoin’s utility as a bridge between fiat and digital asset economies.

Tokenized Assets and Infrastructure Growth Fuel XRP Demand

RLUSD’s expansion coincides with Ripple Labs’ aggressive push into real-world asset (RWA) tokenization – the process of converting physical or financial assets into blockchain-based tokens.

The XRPL’s native decentralized exchange (DEX) and compliance-friendly features enable institutions to tokenize commodities, securities, or invoices as XRPL-issued tokens (e.g., CBDCs, loyalty points) while using RLUSD for liquidity provisioning and fee payments.

This symbiotic relationship creates incremental demand for XRP, the ledger’s native currency required to facilitate transactions.

Each XRPL operation – whether minting an RWA token or swapping RLUSD – consumes minimal XRP (≈$0.00002 per transaction), but mass adoption scenarios compound these microtransactions into substantive buy-side pressure.

Analysts note that XRP’s circulating supply remains deflationary due to periodic token burns from transaction fees, a mechanism that could magnify price impacts as RLUSD activity grows.

Market observers now monitor whether RLUSD’s liquidity depth on XRPL will attract algorithmic trading firms and decentralized app (dApp) developers, further entrenching the stablecoin’s role in blockchain-based finance.

With Ripple securing partnerships in Central Bank Digital Currency (CBDC) projects and institutional payment corridors, RLUSD appears positioned to serve as both a settlement rail and reserve asset – dual functions that may redefine XRP’s valuation model in 2025’s evolving regulatory landscape.