Ethereum Dominates Ripple's RLUSD Stablecoin

Ripple's RLUSD stablecoin has surpassed $1.63 billion in circulation, with a notable split between two major blockchains.

According to reports, approximately 53% of RLUSD supply is held on Ethereum, while around 47% resides on the XRP Ledger.

This distribution was not always the case. When RLUSD launched in December 2024, it initially found a larger following on Ethereum. By October 2025, an astonishing 88% of all RLUSD supply sat on Ethereum, with only $91 million on XRPL.

However, over the past year and a half, XRP Ledger has steadily gained ground, narrowing the gap between the two blockchains. Despite this progress, Ethereum remains the dominant home for RLUSD due to its larger ecosystem, deeper liquidity, and stronger DeFi presence.