# Stablecoins eclipse XRP as settlement asset, RLUSD hits $1.57 B

**Published:** 2026-08-17T18:04:28.327Z  
**Topic:** Ripple Xrp  
**Sentiment:** neutral  
**Publisher:** TrendWatcher — https://www.trendwatcher.in/article/d5339b6f-f69b-41e4-8f4a-0fbb9ff46015

XRP trades near $1.02, down 46% YTD, while Ripple’s RLUSD stablecoin climbs to $1.57 B and now handles 89% of ledger‑stablecoin volume.

XRP’s price sits around $1.02, a 46% drop for the year, as Ripple’s own RLUSD stablecoin now settles the vast majority of institutional deals on the XRP Ledger, handling $9.8 B of daily transfers and representing roughly 89% of the ledger’s $921.8 M stablecoin market【1】.  

| At a glance | |
|---|---|
| XRP price | $1.02 |
| 24h change | –0.3% (approx.) |
| Year‑to‑date move | –46% |
| Catalyst | Institutional settlement shifting to RLUSD stablecoin |

## Institutional settlement now runs on RLUSD  

Ripple closed ten major deals in H1 2026, and none used XRP as the settlement asset; seven settled in stablecoins, with XRP only paying a 0.00001‑XRP network fee【1】. The RLUSD token, fully backed by cash and U.S. Treasuries and regulated by the New York DFS, has grown from $643 M in circulation a year ago to $1.57 B today, a more than doubling that reflects its adoption by firms such as BlackRock, Deutsche Bank, LMAX Group, Mastercard, Gemini and WebBank【1】. RLUSD now accounts for about 89% of the $921.84 M stablecoin market on the XRP Ledger, underscoring its dominance over the native token for large‑scale settlement.

## XRP’s remaining niche: thin corridors  

Despite RLUSD’s rise, XRP still plays a role in “thin” payment corridors where stablecoins lack liquidity. Ripple’s On‑Demand Liquidity (ODL) product operates in over 40 corridors, with roughly 40% of the 300‑plus institutions on RippleNet actively using it【1】. Notable users include Japan’s SBI Remit, moving about $2 B annually to the Philippines, Vietnam and Indonesia, and Bitso, which routes US‑dollar to Mexican‑peso payments for Latin America’s largest crypto platform【1】. These corridors rely on converting local currency to XRP, moving it instantly on‑ledger, and reconverting at the destination, delivering cost savings of 40%‑85% versus traditional correspondent banking【1】.

## Tokenomics and on‑chain activity  

RLUSD’s supply management has been active: more than 80 M tokens were burned in early July, followed by a 20 M mint, causing the circulating supply to dip to $1.46 B on Aug 1 before recovering to $1.57 B today【1】. Holder count rose 21.8% over the past 30 days to 74,056, while monthly active addresses fell 29.7% to 7,693, indicating fewer, larger wallets—typical of institutional usage【1】. XRP’s circulating supply stands at 62 B, with a maximum of 100 B, and has grown at an annual rate of about 6% over the past five years【2】.

## What to watch  

- **RLUSD circulation thresholds** – A sustained drop below $1.4 B could signal reduced institutional demand.  
- **XRP price stability** – A move back above $1.10 may encourage more institutions to consider XRP for settlement, reducing reliance on RLUSD.  
- **New corridor launches** – Announcements from banks or fintechs adding ODL to additional routes could expand XRP’s niche usage.

Stablecoins have largely supplanted XRP as the primary settlement asset on the ledger, relegating the native token to niche corridors where liquidity remains thin. Whether XRP can regain broader relevance hinges on price stability and the emergence of new use‑cases beyond the current thin‑pair niche.

## Sources
1. 247wallst — [Are Stablecoins Making XRP Unnecessary? - 24/7 Wall St.](https://247wallst.com/investing/cryptocurrency/2026/08/13/are-stablecoins-making-xrp-unnecessary/)
2. The Motley Fool — [The Bear Case for XRP That Every Investor Should Understand](https://www.fool.com/investing/2026/06/04/the-bear-case-for-xrp-that-every-investor-should-u/)
3. AOL — [Better Buy in 2026: Ethereum or XRP?](https://www.aol.com/better-buy-2026-ethereum-xrp-115000951.html)

---
Cite as: TrendWatcher, "Stablecoins eclipse XRP as settlement asset, RLUSD hits $1.57 B", https://www.trendwatcher.in/article/d5339b6f-f69b-41e4-8f4a-0fbb9ff46015