The scale of stablecoins on XRPL is expanding significantly. The article states that this change is enhancing settlement liquidity within the Ripple ecosystem and allowing XRP Ledger to move beyond just cross-border payments, gradually accommodating more on-chain financial activities.
Stablecoin supply continues to rise
For a long time, the market capitalization of stablecoins on XRPL remained below $100 million. This figure surpassed $200 million in November 2025 and subsequently entered a period of sustained growth. Entering 2026, the stablecoin supply rose to approximately $762 million, with a 22% increase in recent weeks.
The article mentions that Ripple USD (RLUSD) contributed the majority of the new supply. This means more funds remain within the XRPL system and can be used for on-chain payments, settlements, and asset transfers. For a public chain known for its settlement efficiency, an increase in stablecoin size typically translates to increased available liquidity.
RWA's issuance expands in tandem.
Besides stablecoins, XRPL's RWA progress is also accelerating. The article shows that the representative asset value on the network has reached $3.57 billion, with $385 million worth of assets already distributed on-chain. This indicates that institutional use of XRPL is expanding from payment scenarios to asset issuance.
A recent institutional pilot program has reinforced this trend. Ondo Finance's tokenized U.S. Treasury redemption test involved JPMorgan Chase's Kinexys platform, Mastercard, and Ripple. In the test, XRPL was used to complete the transfer of tokenized assets, while the cash portion was settled offline.
The adoption speed still needs to be improved.
The article also mentions that in the past month, the market capitalization of the XRPL stablecoin increased by 77% to $888.5 million, and the transaction volume increased by 123% to $4.71 billion. These fund flows provided basic liquidity for settlement and asset transfers, and also indicate an increase in financial uses on the internet.
However, the number of RWA holders has only risen to 110, indicating that the asset issuance rate is faster than the actual adoption rate. The current focus is no longer just on moving the asset on-chain, but on attracting more funds and participants to continue using these assets.
