Ripple's U.S. dollar stablecoin RLUSD has overtaken PayPal's PYUSD to claim the #7 spot among global stablecoins, reaching a market capitalization of roughly $2.71 billion compared with PYUSD's $2.67 billion. The flip comes less than two years after Ripple launched RLUSD globally in December 2024 and arrives at a moment when overall crypto stablecoin supply is shrinking.
According to market data highlighted on November 13, RLUSD added approximately $258 million in net circulating supply over the last 30 days, while PYUSD experienced concurrent redemptions—a dual divergence that proved decisive in pushing Ripple's dollar token into seventh place globally.
How RLUSD Bucked the Broader Stablecoin Contraction
The expansion stands in sharp contrast to broader liquidity flows across digital assets. Earlier CoinPaladin reporting showed total crypto stablecoin supply falling $14.2 billion over 30 days alongside steep weekly USDT outflows on high-beta networks like Solana. In that defensive tape, regulated exchange rails—especially institutional custody and Coinbase integrations—helped channel net dollar inflows into RLUSD.
| Metric | Ripple RLUSD | PayPal PYUSD |
|---|---|---|
| Market Cap Snapshot | ~$2.71 Billion (#7 Global) | ~$2.67 Billion (#8 Global) |
| 30-Day Supply Trend | +$258M Net Expansion | Net Contraction / Outflows |
| Core Ledger Rails | XRP Ledger (XRPL) & Ethereum | Ethereum & Solana |
| Global Launch Date | December 2024 | August 2023 |
Issued across both the XRP Ledger and Ethereum, RLUSD benefits from institutional settlement and exchange distribution. · Source: CoinPaladin Intelligence / OpenRouter AI
Dual-Chain Utility and Resilient XRP Price Action
Operating natively across both the XRP Ledger (XRPL) and Ethereum lets RLUSD capture low-fee cross-border payment rails while tapping Ethereum DeFi and centralized exchange liquidity. That payment traction builds directly on corporate settlement momentum highlighted in Visa's institutional stablecoin settlement expansion.
A +$258M 30-day supply inflow helped RLUSD edge past PYUSD during a defensive broader market week. · Source: CoinPaladin Intelligence / OpenRouter AI
In spot markets today, XRP traded near $1.012 (-0.89% over 24 hours) per CoinGecko—holding up notably firmer than Bitcoin (-4.51%) and Ether (-4.15%) following regulatory clarity naming XRP among digital commodities. Whether RLUSD cements its #7 lead heading into year-end will hinge on sustaining institutional minting if macro risk aversion lingers.