Ripple USD (RLUSD) has been operating for just 106 days and continues to set massive records amid growing adoption. Notably, the new player has crossed the 240 million RLUSD milestone in circulating supply.
RLUSD stablecoin pushes to new heights
As of press time, CoinMarketCap data shows a total circulating supply of 243,690,000 RLUSD. The ecosystem reached the 240 million mark on March 31, 2025.
Notably, the achievement became possible after Ripple initiated a record-breaking minting of 50 million RLUSD tokens in a single day. The massive mint activity saw the surge to current levels.
No official communication has explained this highest single-batch minting in the ecosystem. However, the development signals an increase in users’ adoption of RLUSD in the crypto space. The boost in RLUSD supply might hinge on the need to meet user demands on the broader market.
Ripple’s prior actions show that the firm is strategic in its minting approach as it seeks to establish itself in the stablecoin industry.
For instance, in early March, the Ripple stablecoin tracker indicated that the treasury did not mint any tokens for over four days. This move was described as a strategic way to balance demand and supply dynamics.
Can RLUSD compete with established stablecoin giants?
With Tether (USDT) and Circle (USDC) dominating, Ripple seems determined to remain competitive without overwhelming the market or undersupplying its stablecoin.
While its $243 million market capitalization pales compared to USDT’s $144 billion and USDC’s $60 billion, it has set its sights on sustained growth.
RLUSD could first look to chase PayPal’s PYUSD, whose market cap is still below one billion dollars. PYUSD has a market cap of $720 million and stands $477 million away from RLUSD
This shows how much work the Ripple ecosystem has to do to catch up with seasoned industry players. Brad Garlinghouse, Ripple CEO, has stated that the firm aims to be among the top five elite stablecoins by 2025.
