Capital moves before conversation catches up, and that capital is moving within the XRP Ledger. The ledger now holds $801.8 million in RLUSD circulating supply. Ethereum holds $795.6 million.
That gap may seem small, but it is significant. For the first time, XRPL has overtaken Ethereum as the largest host of Ripple’s dollar-pegged stablecoin, RLUSD.
CoinDesk confirmed the figures, and SMQKE (@SMQKEDQG), an XRP-focused researcher, reported it.
Liquidity rotation from ETH to XRP via RLUSD.✅ https://t.co/CGRPBHOsPV
— SMQKE (@SMQKEDQG) June 26, 2026
The Numbers Behind the Shift
RLUSD is Ripple’s stablecoin. It operates across both the XRP Ledger and Ethereum. Until now, Ethereum has held the larger share. XRPL has now pulled ahead by roughly $6.2 million, a margin that reflects real capital movement rather than a statistical anomaly.
SMQKE described the development as “liquidity rotation from ETH to XRP via RLUSD,” signaling that institutional or large-scale capital is actively repositioning across networks.
Why XRPL Is Attracting the Flow
Ripple Bull Winkle (@RipBullWinkle), a well-known figure in the community, commented on what this movement represents. Liquidity is rotating from ETH into XRP through RLUSD. Ripple’s stablecoin is becoming the bridge that moves capital across networks.
RLUSD does not exist in isolation. It functions as a settlement layer, connecting liquidity pools and enabling transfers between assets. When RLUSD supply concentrates on XRPL, it suggests the ledger is processing more of that activity. One community member raised the most immediate explanation: XRP operates faster and at lower cost than Ethereum.
XRP settles transactions in under five seconds and at fractions of a cent. Those two factors drive adoption in stablecoin markets, where speed and fees determine where capital lives.
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The Community Reads the Signal
Responses to the news reflected measured confidence. One observer noted that XRP’s moment is approaching, reading the supply shift as an early indicator of network momentum. The prevailing read-across responses were consistent. RLUSD supply on XRPL is not a coincidence. It reflects deliberate routing of capital through a network that can handle it efficiently.
RLUSD as Infrastructure
The supply figures matter beyond their face value. RLUSD represents Ripple’s push into regulated stablecoin infrastructure. Its presence on XRPL reinforces the ledger’s utility as a financial settlement network. The more RLUSD flows through XRPL, the more demand for XRP rises. In this system, the ledger functions as active financial infrastructure rather than a speculative network.
Capital follows efficiency, and the XRPL is demonstrating that it can compete for that capital directly against Ethereum. The ledger has seen a rise in RLUSD activity recently, and with more institutions showing faith in its capabilities, it could widen the gap further.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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