Ripple's XRP Ledger Surges Past Ethereum in Stablecoin Supply Leadership

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Ripple's USD stablecoin supply distribution has seen an unexpected change in leadership, with the native XRP Ledger (XRPL) network overtaking Ethereum for the first time. According to the latest on-chain data from Ripple USD Tracker, the stablecoin balance on XRP Ledger reached $801,796,535, while the figure on Ethereum corrected to $795,598,530.

The 'quiet flippening' was driven not so much by aggressive XRPL expansion as by large-scale client redemptions on the Ethereum side. While controlled burns of large token batches were taking place on the competing network, demand on XRPL remained stable, which automatically pushed the network into first place.

Ripple USD storms the top 10 amid global expansion with a total market capitalization of $1.598 billion and a daily trading volume of $166.53 million, according to fresh data from CoinMarketCap. The asset is successfully competing in the sector of new-generation regulated dollar tokens, trailing players such as PayPal USD ($2.75 billion) and Global Dollar ($2.9 billion).