Ripple Leads Stablecoin Market Growth With $258 Million Increase, Beating Ethena

Summary

• Ripple recorded $258.2 million in stablecoin market capitalization growth, securing the leading position despite XRP volatility and broader market weakness.
• Ripple’s RLUSD stablecoin operates across XRP Ledger and Ethereum, supporting digital payments, cryptocurrency trading, and institutional transactions through blockchain networks.
• Open Standard ranked second with $165.1 million in growth, while Ethena secured third place with $78 million in additional capitalization.

Ripple has emerged as the leading contributor to stablecoin market capitalization growth, outperforming several competitors over the past 30 days. According to Token Terminal data, San Francisco-based Ripple recorded a $258.2 million increase in stablecoin market capitalization over the past 30 days, outperforming Open Standard and Ethena despite persistent XRP price volatility and broader weakness across the cryptocurrency market.

Ripple Records $258.2 Million Increase in Stablecoin Market Capitalization

Ripple’s stablecoin market capitalization increased by $258.2 million during the reporting period, establishing a substantial lead over competing issuers. The growth reflects expanding capitalization within Ripple’s stablecoin operations, particularly its U.S. dollar-backed RLUSD token.

Also Read: SBI CEO Yoshitaka Kitao Breaks Silence on XRP as Investors Question Ripple’s Commitment

Ripple developed RLUSD to support digital payments, cryptocurrency trading, and institutional transactions across blockchain networks. The stablecoin operates on the XRP Ledger and Ethereum, allowing users to access different blockchain ecosystems.

Unlike XRP, RLUSD maintains a dollar-pegged structure supported by reserve assets, providing an alternative for transactions requiring price stability. Meanwhile, XRP has experienced considerable price fluctuations, reflecting broader selling pressure across major cryptocurrencies. Despite these conditions, Ripple recorded the largest monthly capitalization increase among the stablecoin issuers tracked by Token Terminal.

Ripple Outpaces Open Standard and Ethena in Monthly Stablecoin Growth

Token Terminal’s rankings revealed considerable differences in market capitalization growth among the three leading stablecoin issuers. Open Standard secured second place with a $165.1 million increase, trailing Ripple by approximately $93.1 million.

Ethena ranked third after recording $78 million in additional market capitalization during the same reporting period. Significantly, Ripple exceeded Ethena’s monthly growth by $180.2 million, representing more than three times the competing project’s increase.

The rankings contrast with shorter reporting periods when Ethena briefly overtook Ripple in daily stablecoin capitalization growth. Nevertheless, Ripple maintained the highest cumulative increase across the monthly comparison, demonstrating stronger performance within the measured period.

Additionally, Open Standard recorded more than twice Ethena’s growth, establishing a considerable gap between the second and third positions. The figures measure capitalization changes rather than total stablecoin market dominance, which depends on the outstanding supply of each issuer.

Conclusion

Ripple led the monthly stablecoin growth rankings with $258.2 million, ahead of Open Standard and Ethena. The results highlight its expanding stablecoin capitalization despite XRP’s market volatility.

Also Read: Ripple’s XRPL Lending Protocol Gains Validator Support, Moves Closer to Activation

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