The Ripple stablecoin, RLUSD, has become the third-fastest-growing stablecoin in 2026, having added over $1 billion to its market cap this year alone.
This is according to data provided by RWA.xyz, the leading source of tokenized RWA data. Notably, RLUSD’s growth this year comes as Ripple seems to have ramped up minting of the stablecoin across the Ethereum and XRP Ledger networks.
RLUSD Adds $1.1B in 2026
The data confirms that RLUSD has grown by exactly $1,070,909,067 this year. This makes it the third-fastest-growing stablecoin in the crypto and tokenization market in 2026, only behind Tether’s USDT and Anchorage’s USDGO, an enterprise stablecoin.
For context, USDT, which maintains its strong lead as the largest stablecoin in the market, has added about $6.7 billion to its valuation this year, putting it first among the fastest-growing stablecoins of 2026 so far. USDGO secures second with a growth of $1.4 billion in 2026.
Meanwhile, below RLUSD are USDS from Sky Protocol (formerly MakerDAO) with $1.063 billion added this year and the USD1 stablecoin launched by Donald Trump-inspired World Liberty Financial last March.
Further data also indicates that it hasn’t been all green for stablecoins in the market this year, as some projects have recorded declines in their valuations. Specifically, USDe from Ethena, USDt from Falcon and PYUSD from PayPal have seen their market caps decline by -$844 million, -$871 million and -$884 million, respectively.
Ripple USD Now Eighth-Largest Stablecoin
With its impressive growth this year, the Ripple stablecoin hit the $2 billion milestone in August. Since then, it has welcomed an additional $380 million, bringing its total market cap to $2.38 billion at the time of this press.
On-chain data sourced by a community-driven RLUSD tracker confirms this represents a drop in the stablecoin’s market value over the past week. Notably, Ripple has burned $98.2 million worth of RLUSD in the last 7 days, while minting just $73.9 million. This leaves a net supply change of -$24.3 million within this period.
Most of this recent activity occurred on the XRP Ledger, with $45.6 million minted and $61.5 million burned on the network over the past week. As a result, the XRPL now hosts $1.013 billion of the total $2.38 billion RLUSD market cap. Ethereum leads with $1.369 billion.
Meanwhile, the $2.38 billion market valuation means RLUSD has maintained its spot among the top 10 stablecoins in the market, currently sitting in the eighth position.
Despite seeing declines in their valuations this year, Ethena’s USDe and PayPal’s PYUSD still rank above RLUSD in terms of largest stablecoins by valuation. Specifically, USDe sits third with $4.6 billion, while PYUSD is seventh with $2.77 billion. RLUSD needs an additional $390 million to overtake PYUSD.