RLUSD Just Overtook Ethereum on the XRP Ledger: Can It Help XRP this Time?
Key takeaways
- RLUSD Just Overtook Ethereum on the XRP Ledger: Can It Help XRP this Time?
- The flip is largely engineered rather than driven by outside demand.
- On the XRP Ledger, XRP is the bridge the network routes trades through, so RLUSD growing there can feed XRP demand the way it never could on Ethereum.
RLUSD Just Overtook Ethereum on the XRP Ledger: Can It Help XRP this Time? Sam Daodu Thu, June 25, 2026 at 8:24 PM GMT+7 7 min read XRP-USD ETH-USD Quick Read The XRP Ledger now holds more RLUSD than Ethereum for the first time, at about $801 million versus $795 million, after 18 months where most of the supply sat on ETH.
The flip is largely engineered rather than driven by outside demand. Of the RLUSD Ripple burned over the past month, about three-quarters came off Ethereum, and draining that side is what tipped the balance toward Ripple's own chain.
On the XRP Ledger, XRP is the bridge the network routes trades through, so RLUSD growing there can feed XRP demand the way it never could on Ethereum. But that only pays off if sustained external volume shows up, which it hasn't yet.