Ripple’s RLUSD Surges Into Top 10 USD Stablecoins Less Than a Year After Launch

Ripple’s U.S. dollar–backed stablecoin, Ripple USD (RLUSD) has just squeezed itself into the the top 10 rankings in the stablecoin charts less than a year after its debut in December 2024 last year, with its market capitalisation breaking the 1 billion threshold.

The milestone marks a monumental moment for Ripple, who positions its RLUSD as a key player in the global stablecoin race long dominated by Tether(USDT) and Circle(USDC). The stablecoin first broke through the 1 billion mark on Monday, just a few days after reaching $900 million on Oct 24, according to CoinGecko data.

Ripple revealed that this breakthrough comes after its collaborative effort with Ripple Prime, GTreasury, and Rail to advance mass global adoption among both institutional and retail users.

"With Ripple Prime, GTreasury, and Rail now joining the effort, RLUSD and XRP will drive faster, efficient and compliant settlement worldwide. This is how we advance the future of finance."

According to data from CoinGecko, RLUSD’s market capitalization has surged more than 1,278% year-to-date, jumping from under $100 million in the beginning of the year to $1 billion by early November. Despite this astronomical growth, Ripple still has a lot of catching up to do.

To catch up with the industry leaders, Ripple would have to hit a market cap of $75 billion or $183 billion to fight with Circle's USDC and TEther's USDt respectively. With this being said, Ripple's has still proved itself to be a serious contender in the US dollar-pegged stablecoin sphere.

USDT at $183 billion and USDC at $75 billion — it now ranks as the 10th-largest USD-pegged stablecoin, with daily trading volumes of roughly $174 million, placing it alongside PayPal USD (PYUSD) and MakerDAO’s DAI.

While RLUSD still trails the leading stablecoins by market capitalization, its daily trading volume of $173 million places it on par with PayPal USD and DAI, ranked seventh and fifth, respectively. The high volume underscores rising user confidence and growing adoption, suggesting RLUSD is rapidly gaining ground in the stablecoin market.

Originally launched as an enterprise-focused stablecoin, RLUSD has since found traction with retail traders through integrations with Transak and growing adoption in self-custodial wallets like Xaman. Data from RWA.xyz shows that about 80% of RLUSD’s supply circulates on Ethereum, while the remaining 20% runs on the XRP Ledger (XRPL) — reflecting Ripple’s multi-chain strategy.

The rise also comes amid Ripple’s ongoing expansion into institutional finance. In October, the firm completed a $1.25 billion acquisition of prime broker Hidden Road, enabling new over-the-counter (OTC) spot trading and digital asset brokerage services for U.S. clients — a move that could deepen liquidity for RLUSD and XRP alike.

Together, these developments paint RLUSD as one of the fastest-growing entrants in the stablecoin ecosystem — and a major signal of Ripple’s renewed push into regulated financial infrastructure.

RLUSD’s explosive growth shows that the next wave of stablecoin competition won’t be driven by meme appeal or speculative hype, but by trust, compliance, and integration into real-world finance. Ripple’s enterprise-first approach could make RLUSD the blueprint for the next generation of “regulated” stablecoins — and its trajectory suggests that the stablecoin wars are only just heating up.