The stablecoin market cap on the XRP Ledger (XRPL) has moved back above $1 billion. The network's total now stands at $1.093 billion, after growing nearly 5% over the past week, as the @Rippl
The stablecoin market cap on the XRP Ledger (XRPL) has moved back above $1 billion. The network's total now stands at $1.093 billion, after growing nearly 5% over the past week, as the @Ripple-linked $XRP Ledger recovered from a recent dip.
The figure puts XRPL ahead of Circle's @Arc network, which has posted sharp gains in recent days, but behind @Avax, whose stablecoin total is $1.307 billion.
The rebound follows a pullback. Blockonomi reported that XRPL's stablecoin market cap fell 13.19% in a week to about $999.9 million, based on DefiLlama data. It also noted that earlier in October, total stablecoins on the ledger had climbed above $1.3 billion.
Ripple's dollar-pegged RLUSD makes up most of the ledger's stablecoin value. According to the same report, RLUSD accounts for about 90.75% of the total. The report added that Ripple Treasury minted $38.6 million of RLUSD on Ethereum while burning $50.6 million on XRPL, citing CoinGape. That shows how shifts in issuance between the two networks can move the XRPL figure.
RLUSD is issued natively on both chains. Bitcoin.com News reported that Ripple USD crossed $2 billion in market capitalization, with nearly $1 billion issued on the XRP Ledger and Ethereum holding a slightly larger supply.
Circle's Arc, an EVM-compatible Layer-1 blockchain, has grown quickly since launch. DefiLlama data cited by CoinTurk showed Arc's stablecoin supply rising 33.51% in a week to about $830 million, almost all of it USDC. The Defiant, via TechFlow, reported that USDC supply on Arc has since passed $1 billion, though about 73% is held by four addresses.
That concentration matters when reading the rankings. As The Defiant noted, the milestone measures dollars outstanding on Arc, not how widely they are used. XRPL's lead over Arc may therefore be narrow, depending on which data provider and timing is used.
Stablecoin market cap on a chain is the total tracked value of stablecoins residing on it. DefiLlama defines it this way, and notes it differs from trading volume and DeFi deposits, so a rise does not by itself signal new demand for XRP.
