Ripple's stablecoin just hit a new all-time high.

@Ripple's $RLUSD stablecoin hit a new all-time high market cap of nearly $2.5 billion on September 22, the latest milestone for a token that has grown from roughly $132 million less than two years ago to become one of the fastest-expanding regulated stablecoins in the market.

RLUSD Sets a New Record

The jump to nearly $2.5 billion in market cap follows a sustained run of supply growth. CoinMarketCap data places $RLUSD's circulating supply at approximately 2.49 billion tokens, up from the $2 billion milestone Ripple reported in late August 2026. Because the token trades near $1, the rise in market value reflects new tokens entering circulation rather than any price appreciation.

$RLUSD is issued across multiple networks, with supply split between the $XRP Ledger and Ethereum. The speed of scaling, from near-zero at launch in December 2024 to over $2.5 billion, positions $RLUSD as one of the faster-growing regulated stablecoins under New York Department of Financial Services oversight.

XRP Ledger Stablecoin Supply Climbs 6%

The broader $XRP Ledger stablecoin market is also expanding. According to DefiLlama data, the XRP Ledger's tracked stablecoin market capitalization reached approximately $1.159 billion on September 25, rising $67.12 million, or 6.15%, over seven days. On a 30-day basis, the increase is closer to 11%.

$RLUSD is the dominant force behind those numbers, accounting for approximately $1.067 billion and representing 92.1% of the network's stablecoin market. Its 11.55% monthly growth outpaced the broader ledger's 9.8% increase over the same period.

The figures underline $RLUSD's consolidation as the primary dollar liquidity layer on the XRP Ledger, even as its total supply across all chains continues to set new records.

Sources:Crypto News: Ripple's RLUSD supply nears $2.5B as XRPL stablecoins climb 6%The Crypto Basic: XRP Ledger Stablecoin Market Grows $67M in a WeekDefiLlama: XRPL Stablecoin Market Cap and Supply