Ripple’s USD-backed stablecoin, RLUSD, is approaching a major supply milestone, as according to CoinMarketCap, its market capitalization has reached $1.56 billion, with 1.55 billion tokens in circulation. Following a $40 million mint on Ethereum two days ago and a sustained daily volume above $43 million, RLUSD is now less than $500 million away from reaching the $2 billion threshold.
$2 billion through institutional utility for Ripple
Ripple’s “boring is better” approach to stablecoins is clearly paying dividends. RLUSD is closer than ever to reaching the $2 billion psychological ceiling, a feat fueled by its aggressive pivot into regulated traditional finance.
This week alone, banking giant Deutsche Bank integrated Ripple’s technology for cross-border payments, and Société Générale expanded its MiCA-compliant euro stablecoin onto XRP Ledger. Market participants are also monitoring Ripple’s anticipated Japan rollout with SBI Holdings, as well as its progress toward a U.S. National Trust Charter.
Assuming the supply growth goes as planned, RLUSD could surpass $2 billion in market capitalization by early Q2, 2026.
Despite the recent “sell-everything” mood that dragged XRP down, RLUSD has remained stable, maintaining its $1 peg with daily trading volumes exceeding $100 million. If Ripple maintains this minting and institutional integration pace, reaching a $2 billion market cap by Q2, 2026 is highly probable.
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The takeaway for the suit-and-tie crowd is simple — Ripple has spent nearly $3 billion on acquisitions to ensure that RLUSD is not just another digital dollar. The stablecoin is becoming the utility-driven collateral of choice for institutions that prefer their liquidity with federal and state regulatory oversight.
Unlike price-driven assets like XRP, RLUSD’s growth metric is its circulating supply tied to real usage. Even during a period of crypto winter, Ripple achieved a bull edge.