Ripple RLUSD Reaches New High: Market Analysis of Global Financial Trends

Ripple has reached a new historic milestone with the circulating supply of its stablecoin RLUSD hitting US$2.442 billion. This is an evolution from mid-August 2026, where the value was around $1.7 billion and had surpassed $2 billion by late August. By early September, it had reached $2.32 billion, with a consistent monthly growth rate of 15% to 20%. Currently, Ripple Ledger is cited as the industry's 11th largest stablecoin chain by native supply. This development comes at a time when XRP itself has struggled, seeing its price drop approximately 27% year-to-date even as RLUSD’s market cap grew more than tenfold over the same period. This divergence points to institutions using RLUSD as settlement and treasury infrastructure independent of XRP's own price performance. The growth in stablecoin supply on a network signals expanding liquidity and real-world usage, but it runs on a separate track from demand for the native token itself, and the two should not be read as moving together. Readers can watch spot XRP ETFs, which have been described as attracting large amounts of capital this week, though daily inflows have run in the low single-digit millions in recent sessions, with cumulative inflows since launch approaching $1 billion over a longer window. The more precise read is that XRP ETF demand has been steady rather than surging, while RLUSD's supply growth has been the sharper and more consistent trend of the two.