Ripple’s RLUSD Nears $1.3B Market Cap After Multi‑Chain Expansion
Ripple’s RLUSD stablecoin has climbed toward a $1.3 billion market capitalization following a targeted multi‑chain deployment across the XRP Ledger (XRPL) and Ethereum. The dual‑network strategy aims to combine XRPL’s low-cost, high‑speed settlement with Ethereum’s deep DeFi liquidity, driving demand and utility across payments and decentralized finance. Token Terminal data cited in the report places RLUSD above $1.2 billion and approaching $1.3 billion. Key commercial moves include a partnership with Gemini to enable RLUSD card settlements, expanding retail and institutional payment use-cases. Regulators in Abu Dhabi have approved RLUSD for use in the region, bolstering its appeal to compliance‑oriented institutions. Ripple CTO David Schwartz has increased involvement in XRPL infrastructure — launching an XRPL hub to monitor performance and rolling out MPT standard support to improve reliability and real‑world asset tokenization. Analysts and legal commentators cited in the article argue multi‑chain stablecoins are better positioned for long‑term adoption due to interoperability, liquidity, and scalability advantages. For traders: RLUSD’s expanding market cap, Gemini integration, regulatory approvals, and XRPL upgrades may increase on‑chain activity and cross‑network settlement flows, potentially boosting demand for XRP‑linked liquidity and trading volume in the short term while strengthening RLUSD’s role in payments and DeFi over the longer term.
Bullish
The news is categorised as bullish because multiple concrete factors point to increased adoption and on‑chain activity that can support demand for RLUSD and related liquidity (including XRP). Key bullish drivers: 1) Multi‑chain deployment (XRPL + Ethereum) improves utility — XRPL for fast, low‑cost settlement and Ethereum for DeFi liquidity — which typically increases token issuance, transfers and integrations. 2) Gemini card settlement integration creates a real‑world payments on‑ramp, likely increasing transactional velocity and stablecoin circulation. 3) Regulatory approval in Abu Dhabi reduces compliance risk in a key market, attracting institutional counterparties. 4) Infrastructure upgrades and active CTO involvement signal improved network reliability and capacity, reducing operational risk that can hinder adoption. Historically, stablecoins that secured exchange/institution integrations and regulatory clarity (e.g., USDC listings, card or payment integrations) saw rising market caps and on‑chain volumes, which supported broader crypto market liquidity and trading flows. Short‑term impact: likely higher on‑chain volumes, increased demand for RLUSD and XRP liquidity pools, and heightened trading activity as markets price in integrations and approvals. Volatility around announcements is possible as traders reposition. Long‑term impact: strengthens RLUSD’s product‑market fit for payments and DeFi; if sustained, this can entrench RLUSD as a cross‑chain settlement asset, supporting steady growth in market cap and use in institutional flows. Risks that could temper bullishness include broader macro pressure, regulatory setbacks in other jurisdictions, or technical issues during cross‑chain operations. Overall, the balance of evidence favors a positive market reaction for RLUSD-linked liquidity and related XRP market activity.