Ripple-backed Evernorth says RLUSD has turn into a progress engine for XRP Ledger exercise, not a substitute for XRP.
Abstract
- RLUSD buying and selling has routed over $2.5 billion by XRP Ledger pairs since its public launch.
- The RLUSD/XRP pair cleared about $900 million in six months, Evernorth’s new report exhibits immediately.
- RLUSD provide on XRP Ledger now barely exceeds Ethereum, marking a pointy cross-chain provide shift.
Evernorth’s June 30 report stated RLUSD has turn into one of many most-traded issued property on the XRP Ledger. The agency stated RLUSD’s share of all on-chain buying and selling rose from below 1% to about 12% in 2026.
The report stated the RLUSD/XRP pair cleared about $900 million in buying and selling quantity over the previous six months. It additionally stated greater than $2.5 billion has traded by RLUSD pairs on XRP Ledger since launch.
Evernorth says RLUSD helps XRP
“RLUSD isn’t substituting for XRP; it’s operating on it,” Evernorth wrote. The agency stated every RLUSD commerce, swap and switch settles on the XRP Ledger and pays community charges in XRP.
RLUSD now accounts for about 1 million transactions monthly from buying and selling exercise alone, in accordance with the report. Evernorth stated this provides buying and selling quantity, helps deeper greenback liquidity and burns XRP charges with every transaction.
Provide shifts from Ethereum to XRP Ledger
Evernorth stated RLUSD in circulation on XRP Ledger grew from about $20 million on the finish of 2024 to about $800 million by late June 2026. It additionally stated XRP Ledger held about 51% of all RLUSD in circulation, up from about 17% in April 2026.
The agency additionally shared the report in a thread on X, saying each RLUSD commerce and switch on XRP Ledger remains to be an XRP transaction. The publish framed RLUSD as a greenback liquidity layer that provides community exercise moderately than eradicating XRP’s position.
Ripple debate continues
As beforehand reported by crypto.information, RLUSD has turn into central to a wider debate over whether or not Ripple’s institutional wins are serving to XRP immediately. Ripple’s current settlement and fee offers usually use RLUSD because the money leg, whereas XRP primarily seems because the community charge asset.
As well as, Ripple and Bitso additionally introduced the Mexican peso-backed MXNB stablecoin to XRP Ledger. MXNB and RLUSD help regulated settlement between the U.S. and Mexico.
Beforehand, crypto.information reported that Binance listed RLUSD after robust 2025 progress, whereas Ripple deliberate to broaden the stablecoin to a number of Ethereum layer-2 networks in 2026. That exhibits RLUSD’s progress shouldn’t be restricted to 1 chain, whilst Evernorth says XRP Ledger now holds a slight majority of provide.
Evernorth stated its on-chain figures got here from Dune Analytics and lined full month-to-month information by Could 2026, with some provide figures taken from a June 25 snapshot. The agency stated present developments might change, however it framed RLUSD as a greenback liquidity layer that provides exercise to the XRP Ledger.
