Ripple’s RLUSD stablecoin hits $1 billion market cap, becoming 11th largest globally

Ripple’s RLUSD market cap has officially crossed the $1 billion threshold, marking a defining moment in the company’s push to expand its stablecoin footprint within both institutional and retail markets.

The milestone, achieved within a year of the token’s launch, places RLUSD among the world’s leading USD-backed digital assets and signals increasing confidence in Ripple’s blockchain ecosystem.

According to DeFi Llama, the RLUSD market cap reached $1.025 billion, making it the 11th largest stablecoin globally. Other analytics platforms, including CoinMarketCap, have positioned RLUSD even higher — among the top ten USD-backed stablecoins.

Institutional adoption drives RLUSD market cap growth

Ripple’s RLUSD market cap growth has been fueled by a wave of institutional adoption and new integrations across major trading ecosystems. The stablecoin’s expansion has been supported by Chicago-based derivatives exchange Bitnomial, which recently became the first regulated U.S. exchange to accept stablecoins such as RLUSD for margin collateral and deposits.

Bitnomial, regulated by the Commodity Futures Trading Commission (CFTC), described this step as a major advancement toward integrating regulated finance with blockchain-based assets. The announcement added credibility to RLUSD’s appeal, bridging traditional and decentralized markets.

While Ripple originally marketed RLUSD for institutional use, its adoption has grown significantly among retail users, boosted by integrations with Transak and increased visibility in self-custodial wallets such as Xaman.

Data from RWA.xyz reveals that the RLUSD market cap rose nearly 30% month-on-month, with the number of holders up 3.09%, reaching 38,201 addresses as of November 2025.

Ethereum dominance underpins RLUSD market cap expansion

Another major factor behind the rising RLUSD market cap is its dominance on the Ethereum network, which currently accounts for about 80% of the stablecoin’s total supply, valued at $816.5 million. The XRP Ledger version represents the remaining 20%, roughly $202.8 million in circulation.

Ripple’s dual-network approach offers flexibility across both its proprietary XRP Ledger and the broader Ethereum ecosystem, enhancing liquidity, interoperability, and accessibility.

This hybrid issuance model aligns with Ripple’s strategic goal of bridging legacy finance and Web3 infrastructure — a vision that continues to attract attention from both regulators and financial institutions.

Despite turbulence across the broader market, RLUSD’s consistent climb in market cap has become an outlier. As of November 5, trading volumes surged by 82.5%, reaching $276 million in a single day, underscoring strong investor demand.

RLUSD market cap resilience amid stablecoin market decline

The overall stablecoin market has experienced a mild contraction, losing approximately $2.47 billion — about 0.8% of total market capitalization — in the past week. Yet, the RLUSD market cap continues to climb, indicating sustained investor trust and robust network activity.

Ripple’s ascent comes as global regulatory bodies and financial institutions reassess stablecoin frameworks.

Industry leaders such as Tether (USDT) and Circle (USDC) still dominate, with $183 billion and $74.6 billion in market cap respectively, representing the lion’s share of the sector. However, Ripple’s entry into the billion-dollar club underscores a shifting landscape where new entrants can carve out space through compliance, scalability, and innovation.

The Ethena USDe stablecoin, with a market cap of $9.06 billion, currently ranks third. Ripple’s RLUSD, though smaller, continues to close the gap as both adoption and institutional confidence grow.

Looking ahead: Ripple’s strategy for RLUSD market cap expansion

Ripple’s continued focus on interoperability, cross-chain liquidity, and institutional integration suggests the RLUSD market cap could expand further in the coming quarters.

Analysts believe that Ripple’s alignment with Ethereum and growing regulatory acceptance of stablecoins in markets such as the U.S. and Canada will further strengthen RLUSD’s foothold.

With Ripple’s RLUSD market cap now surpassing the $1 billion mark, the stablecoin’s trajectory reinforces the company’s growing influence in global finance — bridging traditional monetary systems with decentralized networks.