Ripple's RLUSD adds $972m in 90 days as USDT and USDC shrink

Key points

• RLUSD supply reached about $2.57bn on 4 Nov, a gain of roughly $972m from $1.59bn on 6 Aug, per DefiLlama.
• USDT fell about $5.2bn to roughly $178bn and USDC slipped about $900m to about $70.9bn over the 90 days.
• Ripple won final OCC approval on 26 Oct to set up Ripple National Trust Bank, which will manage RLUSD reserves.

Ripple's RLUSD stablecoin has become the fastest-growing major dollar token of the past quarter, according to DefiLlama data reported by Bitcoin.com News. Its supply reached about $2.57bn on 4 Nov, up roughly $972m from $1.59bn on 6 Aug, the largest 90-day net inflow among the major stablecoins.

Most of the market moved the other way. Ethena's USDe was the nearest rival to RLUSD, adding about $690m, while PayPal's PYUSD was little changed.

RLUSD has roughly doubled in 2026, from about $1.28bn on 1 Jan. About $1.72bn sits on Ethereum and about $870m on the XRP Ledger. Supply dipped from about $2.61bn on 30 Oct to $2.42bn on 31 Oct after Binance's $6.3bn hack, then recovered as Ripple minted $110m in one transaction on 2 Nov.

The growth follows Ripple's final approval from the Office of the Comptroller of the Currency on 26 Oct to establish Ripple National Trust Bank, which will manage RLUSD reserves under federal supervision. Ripple CEO Brad Garlinghouse has said RLUSD competes with other stablecoins rather than XRP; XRP traded near $1.25 on 4 November.

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