Ripple’s RLUSD Stablecoin Dominates Ethereum Over XRP Ledger

Ripple’s stablecoin, RLUSD, is shifting course and making waves on the Ethereum blockchain far more than it is on the XRP Ledger. A revealing report by XRP contributor Vet_X0 highlights a staggering disparity: $61,823,274 in RLUSD is currently circulating on Ethereum, compared to a mere $21,995,883 on XRP Ledger.

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This 1:3 ratio showcases Ethereum’s expanding dominance in the stablecoin sector, which may leave some XRP enthusiasts feeling a bit let down. They had hoped that Ripple USD would primarily boost the XRPL ecosystem, but it appears that Ethereum’s established infrastructure and widespread use of ERC-20 tokens have the upper hand.

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The crux of this difference lies in Ethereum’s robust ecosystem. Major exchanges are well-equipped to accommodate Ethereum-based assets, making it easier to send, receive, and list tokens like RLUSD. This seamless integration likely contributes to the current preference for RLUSD on Ethereum, even though the XRP Ledger remains central to Ripple’s operations.

Observing the distribution:

• $61,823,274 on ETH

• $21,995,883 on XRP Ledger

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  ~1:3 ratio — a curious trend to monitor as demand evolves on each platform.

Some analysts speculate this imbalance might reflect a calculated rollout strategy. While Ripple has the means to support RLUSD, platforms like Bitstamp—partially owned by Ripple—are proceeding with caution, perhaps waiting to gauge the stablecoin’s acceptance and the prevailing regulatory climate.

On the transaction volume front, RLUSD isn’t just twiddling its thumbs; it’s on an upward trajectory. Data from CryptoQuant indicates consistent growth in RLUSD activity, and projections suggest this momentum could accelerate. Notably, its alignment with the European Union’s MiCA regulations puts RLUSD in a strong position within a market that tends to be more stringent compared to the U.S.

Ripple’s overarching ambition is clear: capture a significant share of what could evolve into a $2.8 trillion market in the near future. As RLUSD continues to navigate its new path, keep an eye on how both Ethereum and the XRP Ledger adapt to this dynamic scenario.