Ripple’s RLUSD Adds $228.8 Million as Stablecoin Market Stays Flat

Ripple USD (RLUSD) added $228.8 million to its market capitalization during the 30 days ending Nov. 4, reaching about $2.57 billion as much of the broader stablecoin market remained flat or contracted, extending its recent market-cap gains.

About $1.72 billion in RLUSD was on Ethereum, while roughly $850 million to $870 million was on the XRP Ledger. Single-day mints on the XRP Ledger recently topped $110 million. A mint creates new tokens, usually after a dollar deposit; large holders can redeem RLUSD as quickly as they mint it, so supply can shift as their activity changes.

RLUSD began 2026 with a market capitalization of about $1.28 billion and was up more than 88% year to date by late October. Ripple launched the dollar-pegged token on Dec. 17, 2024. It is backed by cash, cash equivalents and short-term U.S. Treasury securities, and has independent attestations and an investment-grade rating from Moody’s.

In late October, the Office of the Comptroller of the Currency (OCC) gave final approval, effective Oct. 26, for Ripple National Trust Bank to manage RLUSD’s reserves. RLUSD also gained listings and integrations with Coinbase and Robinhood during late October.