Key Insights:
- XRP Ledger stablecoin supply increased 14.56% over seven days.
- RLUSD accounted for roughly 93% of XRPL stablecoin capitalization.
- XRPL moved closer to Plasma and Avalanche in chain rankings.
The XRP Ledger recorded a sharp expansion in stablecoin liquidity this week. DefiLlama data showed its stablecoin capitalization reached about $1.33 billion on Oct. 3. The increase moved XRPL closer to Plasma and Avalanche in blockchain stablecoin rankings.
The expansion strengthened XRPL’s position among networks competing for dollar-denominated blockchain liquidity. Ripple USD drove most of that increase, while smaller stablecoins remained a limited network share.
XRP Ledger Stablecoin Supply Climbs 14.6% in Seven Days
DefiLlama showed that stablecoin supply on XRPL increased by 14.56% over the previous seven days. The network added roughly $169 million in stablecoin value during that period.
That pushed XRPL near Plasma, which held about $1.36 billion in stablecoins. Avalanche remained slightly higher at approximately $1.39 billion, based on the same dataset.
Those figures placed XRPL immediately behind the two networks in DefiLlama’s chain rankings. Closing those gaps would move the ledger further up the stablecoin table.
The broader stablecoin market stood at above $306 billion, DefiLlama data showed. XRPL, therefore, represented less than 1% of total stablecoin capitalization despite its recent weekly gain.
XRP Ledger Growth Remains Concentrated in Ripple USD
DefiLlama data showed that Ripple USD (RLUSD) dominated stablecoin liquidity on XRPL. RLUSD represented about 93% of the network’s stablecoin capitalization at the latest reading.
Its XRPL-based market value reached roughly $1.24 billion after gaining about 16% over seven days. Valtorum USD ranked second, with approximately $73 million in market capitalization.
USD Coin held a much smaller position at roughly $5 million on the ledger. That concentration tied much of XRPL’s stablecoin expansion to Ripple’s dollar-backed token.
Across all supported chains, DefiLlama valued RLUSD near $2.51 billion. That made its XRPL allocation close to half of its total circulating value.
Ripple states that RLUSD targets a constant value of one U.S. dollar. The company says segregated cash and cash-equivalent reserves fully back the token.
Ripple documentation also showed RLUSD operates natively on several networks. Those networks include Ethereum, Base, Optimism, Ink, Unichain, and the XRPL EVM sidechain.
The multi-chain structure means RLUSD’s total circulation differs from its supply specifically held on XRPL. DefiLlama’s chain data isolates the portion attributed to the network.
XRPL Infrastructure Supports Issued Stablecoins Natively
Official protocol documentation states that stablecoins use a native-issued token infrastructure. Users establish trust lines with issuers before receiving and holding those assets.
The structure differs from blockchains, where issuers deploy separate smart contracts for each token. XRPL also supports a built-in decentralized exchange for issued assets.
Official network data said the ledger has maintained continuous uptime for more than 14 years. It also reported over eight million funded accounts and more than $1 trillion transferred.
The network lists transaction settlement times between three and five seconds. Its website quoted a typical transaction fee of 0.000011 XRP.
Messari research analyst Matt Kreiser previously documented the rapid growth of RLUSD on XRPL. His Q1 report said RLUSD reached $340.3 million, up 45% quarter over quarter.
Messari also reported that average daily XRPL transactions rose 35.3% quarter-over-quarter during Q1. The metric reached 2.48 million transactions per day.
That earlier base shows how quickly the stablecoin footprint expanded during 2026. Still, stablecoin supply alone does not establish equivalent growth in decentralized finance activity.
XRP Ledger Ranking Depends on Further Stablecoin Growth
XRPL still trailed Plasma and Avalanche despite the latest increase. DefiLlama reported Plasma at nearly $1.36 billion and Avalanche at nearly $1.39 billion in the latest snapshot.
The gap to both networks remained narrow relative to XRPL’s weekly inflow. However, rankings can shift as stablecoins move across chains or issuers expand circulation.
XRP itself traded near $1.48 on Oct. 3, according to CoinMarketCap data. The token had declined about 1% over 24 hours while remaining higher over 30 days.
That divergence showed stablecoin growth had not translated directly into an immediate XRP price increase. Stablecoin capitalization measures on-chain token supply rather than demand for XRP itself.
The next verifiable marker is whether XRPL stablecoin capitalization overtakes Plasma and Avalanche. DefiLlama’s chain dashboard will show whether the current inflow persists or reverses.
This article is for informational purposes only and does not constitute financial or investment advice. Stablecoin supply, blockchain activity, and market data may vary as network conditions evolve.
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Rupam Roy 
