Ripple’s RLUSD stablecoin has emerged as the fastest-growing stablecoin in June, surging an impressive 47% over the month to reach a circulating supply of $455 million. In a year that has seen growing competition in the stablecoin space, RLUSD’s meteoric rise is a clear indicator of shifting dynamics in both regulatory sentiment and market trust.
RLUSD’s Rapid Rise
Launched as part of Ripple’s broader push into real-world asset tokenization and stablecoin issuance, RLUSD has quickly carved out a spot for itself in an increasingly saturated market. Its supply growth of nearly 50% in a single month stands out in stark contrast to most other stablecoins, which have either stagnated or experienced marginal growth during the same period.
What’s particularly notable is the accelerating adoption of RLUSD on the Ethereum blockchain. While RLUSD was initially launched as a multi-chain asset with native support on XRP Ledger, Ethereum has now become the dominant chain for RLUSD activity. According to on-chain data, the token’s presence on Ethereum has quadrupled since January 2025, with the majority of its current circulating supply now residing there.
This trend underscores a larger narrative: institutions and DeFi users continue to favor Ethereum’s vast ecosystem, even as newer networks offer lower fees and faster transaction speeds. For RLUSD, the Ethereum integration has proven to be a smart strategic move.
The Regulatory Winds Shift in Favor
One of the key drivers behind RLUSD’s growth has been the recent positive regulatory developments surrounding stablecoins in the United States. In June, U.S. lawmakers advanced legislation that establishes a clear framework for regulated stablecoin issuers — an area Ripple has been preparing for extensively.
Ripple, which has long maintained a proactive stance toward regulatory compliance, appears well-positioned to capitalize on this shift. The company’s history of working closely with financial institutions and regulators gives RLUSD an air of credibility that many competitors still struggle to achieve.
These developments have also led to increased demand for regulated and transparent stablecoin options — something Ripple has emphasized as a core value of the RLUSD product. Built to meet compliance standards and backed by high-quality liquid assets, RLUSD is increasingly seen as a “safer” stablecoin alternative for institutions entering the crypto space.
Competing in a Crowded Market
While Tether (USDT) and USD Coin (USDC) continue to dominate the stablecoin market by sheer volume, RLUSD’s trajectory suggests it could soon play a more disruptive role. Its recent monthly growth rate has outpaced both USDT and USDC, which only saw low single-digit increases during June.
Moreover, Ripple’s global brand recognition and institutional relationships give RLUSD advantages that newer entrants and DeFi-native stablecoins lack. If the trend continues, RLUSD could soon become a top-five stablecoin by market cap — a remarkable achievement for a token still in its first full year of launch.
What Comes Next?
Looking ahead, Ripple’s strategy appears to involve expanding RLUSD’s footprint across both centralized exchanges and decentralized finance protocols. Integration into RippleNet and further partnerships with traditional financial institutions could further boost adoption.
At the same time, increased Ethereum-based RLUSD usage suggests that DeFi protocols are beginning to trust and adopt the asset. With developers and institutions alike seeking stable, compliant alternatives, RLUSD could become a cornerstone asset in a future where real-world assets and crypto liquidity increasingly intersect.
Conclusion
Ripple’s RLUSD is having a breakout moment. From soaring supply growth to favorable regulatory tailwinds, it has all the hallmarks of a stablecoin designed for long-term relevance. Whether it maintains this momentum remains to be seen — but for now, RLUSD is leading the stablecoin pack into the second half of 2025.