XRP steadies near $1 as RLUSD shifts to XRP Ledger and CTO refutes

XRP traded around $1, down about 9% in the past week, as Ripple’s own dollar‑stablecoin RLUSD for the first time held a larger share on the XRP Ledger than on Ethereum, and CTO David Schwartz clarified that XRP was created after Bitcoin, not before it【1†L1-L4】【2†L1-L4】.

RLUSD moves home to the XRP Ledger

Ripple’s RLUSD stablecoin now totals about $801 million on the XRP Ledger, overtaking the $795 million it held on Ethereum—a shift driven largely by Ripple burning $539 million of RLUSD, most of which was removed from Ethereum【2†L5-L9】. The ledger’s share of RLUSD rose from roughly 9% in October to just over half today, reflecting Ripple’s deliberate strategy rather than a surge of external demand. RLUSD’s overall supply fell about 11% over the past month, indicating that the increase in XRPL share stems from supply contraction on Ethereum, not fresh inflows【2†L10-L13】.

The move matters because the XRP Ledger uses XRP as the native bridge token for trades. When RLUSD is swapped for assets without deep markets, the transaction routes through XRP, giving the token a “cut” of the activity. On Ethereum, RLUSD operates in isolation from XRP, so the shift potentially expands XRP’s utility in cross‑asset trades on its own chain【2†L21-L27】. However, the price impact has been muted; broader market weakness—Bitcoin hovering in the low $60,000s—has kept XRP near $1 despite the structural change【2†L31-L33】.

Historical clarification from Ripple’s CTO

Separately, Ripple’s CTO emeritus David Schwartz reiterated that XRP did not exist before Bitcoin. He traced the XRP Ledger’s development to 2011, with launch in 2012, whereas Bitcoin launched in 2009. The confusion often arises from “RipplePay,” a 2004 credit‑trust concept that never used blockchain or a native token【1†L1-L4】. Schwartz also dismissed rumors linking his 1988 distributed‑computing patent to XRP or blockchain design, emphasizing that the earlier ideas are unrelated to the XRP Ledger’s blockchain architecture【1†L23-L26】.

The clarification serves to separate narrative myth from technical fact, a distinction that matters for community identity but has limited immediate price relevance. Nonetheless, it underscores Ripple’s effort to maintain a coherent story as it pushes its infrastructure forward.

What to watch

• RLUSD supply dynamics – further reductions on Ethereum could increase XRPL’s share, while new minting on the ledger would test demand.
• XRP price thresholds – $0.95 (near‑term support) and $1.10 (short‑term resistance) as the token trades within a tight band.
• Institutional usage of XRPL – any increase in cross‑border settlements or tokenized asset trades that route through XRP could translate into on‑chain volume spikes.

XRP’s price remains anchored near $1 despite structural gains for its ecosystem, highlighting the gap between Ripple’s strategic moves and market perception. Whether the RLUSD shift and clarified history will translate into sustained on‑ledger activity—and ultimately price appreciation—remains to be seen.