The stablecoin supply on the XRP Ledger (XRPL) has grown gradually over the past months, crossing the $1 billion mark for the first time earlier this week.
The XRPL’s stablecoin supply surged from 683.1 million in April 2026 to an all-time high (ATH) of about $1.1 billion in May, according to data from Artemis, analyzed by Finbold on May 27. As such, stablecoin supply on the XRP Ledger climbed by more than 61% month-over-month (MoM).
The Ripple USD (RLUSD), which is backed by Ripple Labs, accounts for the lion’s share. Over the past seven days, the supply of RLUSD on XRPL Ledger surged by nearly 47% to reach $696,663,412 at the time of publication, based on metrics from rwa.xyz.
Other notable stablecoins on the XRPL are Ondo Short-Term U.S. Government Bond Fund (OUSG), which had a market cap of $294,023,824 at press time. Meanwhile, the Braza (USDB) has a supply of approximately $104,281,912, up 6% over the past 7 days.
Why is XRP Ledger experiencing steady growth in stablecoin supply?
The notable growth in stablecoin supply on the XRP Ledger could be directly attributed to Ripple Labs’ efforts. Furthermore, Ripple Labs has positioned XRPL as a top blockchain for cross-border payment through dozens of partnerships and strategic acquisitions.
With institutional investors increasingly seeking stablecoins, driven by regulatory clarity in the United States, XRPL has benefited from its tested uptime since inception. Notably, XRPL recently underwent a network upgrade, which could improve its long-term stability and efficiency, as Finbold explained.
The XRP Ledger has also benefited from the Genius Act, a piece of legislation that created the first federal regulatory framework for stablecoins, helping more institutions launch tokenized U.S. dollars seamlessly.
