RLUSD supply on Ethereum surpasses XRPL, grows 93% in 30 days

Ripple’s regulated stablecoin is finding its center of gravity on Ethereum as institutional DeFi demand reshapes the supply split between chains.

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byEditorial Team
Aug. 30, 2026

Ripple’s dollar-pegged stablecoin RLUSD has become a two-chain tug-of-war story, and Ethereum is winning the latest round. The token’s supply on Ethereum surged roughly 93% over the past 30 days, pushing the network’s share past the XRP Ledger for the first time since mid-2026.

Total RLUSD supply now sits at approximately $2.37B, with Ethereum holding about $1.33B (56.1%) and XRPL retaining $1.04B (43.9%).

The numbers behind the shift

The 30-day period saw aggressive minting activity. Roughly $1.39B worth of RLUSD was minted while approximately $606.8M was burned, producing significant net growth that landed disproportionately on Ethereum.

Of the $303.7M added to RLUSD’s market cap during that stretch, Ethereum accounted for $256.5M, or about 84% of the increase.

The single largest concentration of RLUSD on Ethereum lives inside Aave’s lending contracts, holding roughly $330M. Ripple’s own deployer wallet accounts for another $114M.

Average holder balances reinforce the institutional tilt. On Ethereum, the typical RLUSD holder sits on about $106K. On XRPL, that figure drops to around $15K, spread across more than 69,000 individual wallets.

Why Ethereum keeps pulling ahead

When RLUSD launched on December 17, 2024, under a New York Department of Financial Services trust company charter, Ripple positioned the token as a dual-chain asset. XRPL would handle the fast, cheap transactions that enterprises need for cross-border payments. Ethereum would plug into the broader DeFi ecosystem where composability and liquidity depth matter more than raw transaction costs.

Protocols like Aave became magnets for RLUSD deposits, offering yield opportunities that don’t exist in the same form on XRPL. Ripple’s own minting and burning patterns, used for settlements and liquidity management, tilted toward Ethereum as institutional counterparties increasingly preferred settling on the network where their other DeFi positions live.

Two chains, two audiences

XRPL’s lower fees and faster finality make it practical for retail users and smaller payment flows. Its 69,000-plus holder count dwarfs Ethereum’s holder base in raw numbers. For someone deploying $10M into a lending protocol, those advantages matter less than the depth of DeFi infrastructure available on Ethereum.

The $2.37B total supply puts RLUSD in a notable position within the stablecoin hierarchy. The 93% Ethereum expansion in a single month suggests it’s carving out a niche among institutions that want regulatory clarity alongside DeFi composability.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.

Source: cryptobriefing.com