Stablecoin Volume on XRP Ledger Explodes as RLUSD Dominates the Market

The XRP Ledger is quietly becoming a heavyweight in two markets that most people are not paying attention to: stablecoins and real world assets. New data shows the network recorded $1.77 billion in stablecoin transfer volume over the past 30 days. That is a 91.90% increase. 

For context, that is nearly double the volume from the previous month. TheCryptoBasic shared data showing stablecoin market cap also climbed 7.51% to $432.26 million, and the number of holders jumped 7.99% to 56,830.

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RLUSD Is Eating the Whole Market

One stablecoin dominates this entire picture. RLUSD holds about 84% to 85% of the stablecoin market on XRPL, with a value of $336.8 million. That is not a small lead. RLUSD has become the default stablecoin for anyone moving value on the ledger. 

The remaining share is split among several other tokens, including XSGD, EURØP, and USDC, all of which launched on XRPL in 2025. Those launches are still fresh, but RLUSD’s head start looks insurmountable right now.

The growth in stablecoin holders is also worth watching. 56,830 addresses now hold some form of stablecoin on XRPL. That is up 8% in a single month. New wallets are coming in, and they are bringing capital with them. The 30 day transfer volume does not lie. People are using the network to move stable value, not just speculate on XRP.

Real World Assets Are Growing Too

The stablecoin story is loud, but the RWA numbers are quietly impressive. The XRP Ledger now holds $1.53 billion in represented real world asset value. That is up 2.23% over the past 30 days. 

Distributed asset value, which includes RWAs spread across the network, is at $410.10 million, up 3.44%. There are 289 individual RWAs on the ledger, held by 25 unique RWA holders. That is a small but concentrated group. Those 25 holders are moving serious weight. The 30 day transfer volume for RWAs hit $111.78 million, a 25.41% increase.

What does that actually mean? Real world assets on XRPL include things like tokenized treasuries, private credit, and commodity backed tokens. These are institutional products. The fact that transfer volume jumped 25% in a month indicates that real money is rotating into these assets.

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Why This Matters for the Network

Stablecoins and RWAs serve two different purposes, but together they tell the same story. The XRP Ledger is becoming a settlement layer for real value. Stablecoins handle payments and trading. RWAs handle investment products. 

Both are growing at double digit rates month over month. The network has been around for over a decade, but these numbers look like a network in its growth phase, not its mature phase.

The $1.77 billion in stablecoin volume is the headline. The 91.90% increase is proof. And the RLUSD dominance shows that one product can define an entire ecosystem. The XRP Ledger is no longer just about XRP. It is about everything built on top of it. And that foundation is getting stronger every month.

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