Ripple Ramps Up RLUSD Minting as Stablecoin Surges Past $1.25B Market Cap

Ripple’s RLUSD stablecoin continues its rapid growth, with fresh data from the Ripple Stablecoin Tracker showing another 10 million RLUSD minted on the XRP Ledger. According to CoinGecko, the stablecoin’s market capitalization now stands at approximately $1.26 billion, marking a significant milestone as RLUSD cements itself among the fastest-growing USD-pegged assets.

The pace of minting activity has accelerated notably over the past several weeks. On Oct. 22, Ripple’s treasury issued 24.5 million RLUSD, kicking off a wave of substantial mints. Just six days later, another 5 million RLUSD entered circulation, followed by a major issuance of 36 million RLUSD on Oct. 31. This steady output set the stage for November’s surge.

On Nov. 3, Ripple minted a massive 50 million RLUSD, coinciding with RLUSD surpassing the $1 billion market cap threshold across both Ethereum and the XRP Ledger. The momentum continued through the month, including a 2 million RLUSD mint on Nov. 19 and a recent 15 million RLUSD issuance on Nov. 25. These milestones highlight Ripple’s growing commitment to expanding the supply of RLUSD amid rising demand.

With a current valuation hovering near $1.25 billion, RLUSD has quietly risen into the upper ranks of mid-tier stablecoins. It now sits near long-established competitors and holds the position of the 12th-largest USD stablecoin globally. While it has not yet reached the multi-billion-dollar club dominated by tokens like USDT, USDC, DAI, PYUSD, and Ethena’s USDe, RLUSD has firmly secured a leading spot in the third tier. Ripple’s stablecoin now ranks around #84 by global cryptocurrency market cap, surpassing several legacy dollar-backed tokens such as TUSD, GUSD, and USDD.

As Ripple continues to scale RLUSD supply and adoption, the stablecoin’s swift trajectory suggests it may soon challenge the second tier of major competitors—positioning RLUSD as a rising force in the highly competitive stablecoin ecosystem.