Ripple USD (RLUSD) expanded by approximately $972 million over the last 90 days, lifting its circulating supply to about $2.57 billion and vaulting it to the fastest-growing major stablecoin over the period. The supply crossed $2.5 billion this week, while Tether’s USDT stands near $178.3 billion and leading rivals saw net outflows.
RLUSD’s supply rose from roughly $1.59 billion on Aug. 6 to about $2.57 billion at press time, a 90-day increase that outpaced all major dollar-pegged tokens. The move comes as the broader stablecoin cohort, including USDT and USD Coin (USDC), recorded declines over the same window.
Why is RLUSD outpacing major stablecoins?
RLUSD outpaced peers because it added about $972 million in net supply over 90 days, rising from roughly $1.59 billion on Aug. 6 to about $2.57 billion this week. That growth led all major stablecoins during the period, while larger dollar tokens, including USDT and USDC, shrank rather than expanded.
The acceleration is notable against a backdrop of contraction among top stablecoins. RLUSD’s milestone above $2.5 billion marks a rapid climb in a short timeframe, distinguishing it from incumbents that failed to post positive net issuance in the same 90-day span. The relative performance underscores shifting demand within dollar-pegged cryptocurrencies and positions RLUSD as the quarter’s standout gainer by inflows.
Asset | Current supply | 90-day trend | Key date |
|---|
Ripple USD (RLUSD) | $2.57B | + $972M | Aug. 6 baseline: $1.59B |
Tether (USDT) | $178.3B | Declined over period | — |
How big is the shift across dollar-pegged tokens?
The shift is material in the context of recent market flows: RLUSD crossed $2.5 billion in total supply and logged roughly $972 million of net inflows in 90 days, while heavyweight stablecoins, including Tether’s USDT and USDC, moved in the opposite direction. USDT’s market size currently sits around $178.3 billion.
That dispersion highlights divergent issuance dynamics across the stablecoin sector. RLUSD’s steady climb contrasts with the retracement at larger rivals, signaling reallocation among dollar tokens. While USDT remains by far the largest stablecoin by circulating supply, RLUSD’s growth rate leads the field over the latest quarter, establishing a higher velocity of demand for Ripple’s dollar-pegged asset during the period.
What should investors watch next?
Investors should monitor whether RLUSD’s 90-day growth streak persists beyond the $2.57 billion mark and whether net redemptions at larger competitors continue. Sustained issuance leadership would further consolidate RLUSD’s position among major stablecoins, while any reversal in USDT or USDC outflows could recalibrate relative market shares.
Follow-through in supply data will determine if RLUSD’s outperformance is a transient burst or a durable trend. The next 30 to 90 days of issuance, redemption, and circulating supply snapshots across dollar-pegged assets will offer the clearest signal on whether the market’s demand is structurally rotating or merely oscillating.
Stablecoin flows remain a core gauge of on-chain liquidity and trading utility. RLUSD’s surge past $2.5 billion, paired with a roughly $972 million 90-day gain, sets an explicit benchmark for the coming quarter’s comparisons across leading dollar tokens.
