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XRPL stablecoin tracking shows $1.34 billion in supply

On Oct. 7, the XRPL ledger tracked $1.338 billion of stablecoins, with RLUSD at 93.17% of that total.

Reported · Written up by our desk · Market Structure

CryptoSlate reports that tracked stablecoins on the XRP Ledger totaled $1.338 billion on Oct. 7, underscoring that stablecoin supply alone does not reveal how much XRP users need for day to day activity.

The outlet says XRP can be required as principal for ledger fees and account reserves, while stablecoins, tokenized funds and securities records may allow principal to sit in other assets. It also notes bridge routes and XRP funded liquidity pools can create an additional reason to hold XRP, because they affect inventory available to fill trades or payments.

CryptoSlate points to DefiLlama’s XRPL dashboard snapshot showing Ripple’s dollar stablecoin RLUSD accounted for 93.17% of tracked stablecoins. In the same snapshot, it cites $43.44 million in decentralized finance value locked, $3.91 million in 24 hour decentralized exchange volume, and $528 in 24 hour chain fees.

The report adds that these metrics measure different parts of the ecosystem and should not be combined because they use different units and can count related assets more than once, and it references Ripple’s Oct. 1 transparency figures showing $2,509.8 million in RLUSD circulation backed by $2,633.8 million in reserve funds.

Latest closeXRP $1.387 ▼2.4%

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