RLUSD’s 14.39% Dip Leaves XRPL Stablecoins a One-Token Show

XRPL’s total stablecoin market cap contracted 13.19% over the past week to roughly $999.9 million, slipping below $1 billion while retaining the 12th-place ranking among networks by stablecoin supply. According to DefiLlama data cited in the report, Aptos occupies the next position at 13th.

RLUSD continued to account for over 90.75% of stablecoin value on the XRP Ledger. Its market cap on XRPL stood at around $907 million as of October 22, 2026, representing a 14.39% decline over seven days. The report linked the pullback to Ripple shifting supply toward Ethereum.

The contraction follows strong growth earlier in October, when XRPL’s total stablecoin market cap climbed above $1.3 billion. The latest weekly decline pulled the ledger’s stablecoin market below the $1 billion threshold from that earlier peak.

Partnerships with Cross River Bank and Standard Chartered were also cited as potential supports for renewed supply if settlement volume grows.