The XRP Ledger (XRPL) has overtaken Ethereum in monthly RLUSD transfer volume after recording more than $20 billion in October 2026.
This marks a change in the activity between the two networks, with the XRPL processing more RLUSD transfers despite holding a much smaller share of the stablecoin’s total supply.
XRP Ledger Records $20 Billion in October RLUSD Volume
The XRP Ledger recorded $20.056 billion in RLUSD transfer volume in October 2026, surpassing Ethereum’s $15.449 billion.
Together, the two networks processed $35.506 billion in RLUSD transfers during the month. Essentially, the XRPL accounted for 56.4% of this volume, while Ethereum contributed 43.6%.
What makes this interesting is the difference in RLUSD supply held by both networks. Out of the stablecoin’s total supply of $2.671 billion, Ethereum holds $1.796 billion, representing 67.2%. The XRP Ledger, on the other hand, holds approximately $874 million, accounting for just 32.7%.
Despite holding less than half of Ethereum’s RLUSD supply, the XRP Ledger recorded a higher transfer volume in October. This suggests that RLUSD activity on XRPL was considerably stronger during the month, which allowed it to take the lead.
October Marks a Change in RLUSD Transfer Volume
The October figures represent a change in the trend seen in previous months, when Ethereum consistently recorded higher RLUSD transfer volumes than the XRP Ledger.
In September 2026, total RLUSD transfer volume across both networks reached $20.253 billion. Ethereum accounted for the larger share, with $11.084 billion in transfers, while XRPL recorded $9.169 billion.
The same pattern appeared in August 2026, when Ethereum processed $11.57 billion in RLUSD transfers compared with $10.020 billion on the XRP Ledger.
Ethereum had maintained a larger share of monthly RLUSD transfer volume for an extended period. However, the October figures show that the XRP Ledger is now catching up. It remains unclear whether this change will continue, and November’s figures will help determine if XRPL can maintain its lead.
Interestingly, weekly figures also show that the XRP Ledger has recently recorded slightly higher RLUSD transfer volumes than Ethereum.
During the week beginning October 26, total RLUSD volume reached a weekly peak of $11.716 billion. Ethereum accounted for $5.017 billion, while XRPL recorded a higher $6.699 billion.
The latest figures for the week beginning November 2 show that the gap between the networks has almost disappeared. Total RLUSD transfer volume reached $7.916 billion, with Ethereum accounting for $3.962 billion and the XRP Ledger recording $3.953 billion. This gave Ethereum a very narrow lead of approximately $9 million.
Ethereum Still Leads in Overall Volume
Although the XRP Ledger has taken the lead in monthly RLUSD volume, Ethereum still accounts for a larger share of total transfer activity across both networks.
Combined, the two networks have processed $227.2 billion in RLUSD on-chain transfer volume. Ethereum accounts for $139.8 billion, representing 61.53% of the total. Meanwhile, the XRP Ledger has recorded $87.4 billion, giving it a 38.46% share.
XRP Ledger Has More RLUSD Holders Than Ethereum
Meanwhile, the XRP Ledger leads Ethereum in the number of RLUSD holders. Data shows that the stablecoin has approximately 80,700 asset holders across both networks.
The XRP Ledger accounts for 67,700 of these holders, representing 83.89% of the total. Ethereum, meanwhile, has approximately 13,000 RLUSD holders, accounting for the remaining 16.11%.
This shows a difference in how RLUSD is distributed across the two networks. While Ethereum holds 67.2% of the stablecoin’s total supply and maintains the larger cumulative transfer volume, the XRP Ledger has attracted the majority of RLUSD holders.