As the XRP community gathered in New York for the Swell 2026 conference on October 28, 2026, Ripple Labs, a blockchain payment company, saw its Ripple USD (RLUSD) receive investment-grade credit ratings from Moody’s Ratings.
Moody’s Ratings assigned A2 long-term, an upper-medium grade indicating low credit risk, and P-1 short-term, the highest prime grade reflecting a superior ability to repay obligations, to RLUSD on Wednesday.
The thesis for this rating was based on the strong credit quality, high liquidity, and robust legal segregation of Ripple USD’s backing assets.
Furthermore, the firm noted that RLUSD’s reserve is predominantly invested in short-duration United States government debt and cash. Additionally, the reserve is maintained at a 103% coverage target that exceeds standard regulatory requirements.
This rating follows the final approval for Ripple National Trust Bank (RNTB), a federally supervised national trust bank, by the Office of the Comptroller of the Currency (OCC), as Finbold explained. As a result, Ripple can now offer RLUSD and XRP custody services through a federally regulated platform.
“The forthcoming GENIUS Act, once in effect in 2027, will provide additional statutory protections relating to Reserve assets and stablecoin holder claims, including the exclusion of required reserves from the issuer’s bankruptcy estate,” Moody’s Ratings noted.
Ripple’s RLUSD performance on Wednesday
Over the past 24 hours, Ripple’s RLUSD saw its average trading volume plunge by over 52% to $171.4 million at the time of reporting. The stablecoin had a market capitalization of roughly $2.58 billion, according to data Finbold fetched from CoinMarketCap.
At the time of writing, Ripple USD had a reported 12,920 on-chain holders. The stablecoin growth on the XRP Ledger (XRPL) is well positioned to increase the network’s on-chain activity, which has a long-term positive impact on XRP.
Despite RLUSD ranking seventh among the top ten stablecoins by market cap, Moody’s Ratings has signaled its robust growth prospects.
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