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Ripple RLUSD Stablecoin Hit $580 Million Supply as XRP Ledger AMM Volume Tripled
XRP Ledger just found real stable flow, and it came from Ripple's own dollar. RLUSD supply hit $580 million this week, up 42% week over week, with $240 million minted on XRPL and $340 million on Ethereum. XRPL AMM volume tripled to $420 million daily, with RLUSD/XRP pool holding $180 million and 1.2 bps spread for $500k size.
Why this mint mattered is liquidity. XRPL AMM now allows single-sided RLUSD deposits with auto yield from fees, paying 6.8% annualized over the last 30 days. One market maker moved $42 million of XRP sales into RLUSD/XRP LP, cutting slippage for $5 million trades from 22 bps to 4 bps. Cross-border firms using Ripple Payments report 68% of flows now touch RLUSD before payout, versus 31% last month, since RLUSD settles in 3.2 seconds on XRPL with fee under $0.002.
On-chain data shows stickiness. RLUSD holders on XRPL rose to 184k, with median balance $1,240. Burns via fees are small, but bridge lock on Ethereum to XRPL hit $210 million, with median bridge time 14 seconds via Axelar. XRP/BTC ratio added 2.4% as more RLUSD bid dips. Lending on XRPL sidechain via a new EVM app offers 5.1% borrow on RLUSD against XRP, so levered XRP long via stable loan rose $120 million.
For traders, the setup is depth plus yield. Perp open interest on XRP rose $380 million, funding near 0.01% per 8h, so spot led. Options skew for XRP $1 calls for August rose 3 vol points. Short liquidations above $0.68 total $420 million, so a break could squeeze.
Risk is still chain limits. XRPL AMM caps at 2 pools per asset, so routing is less flexible than on Solana. Also, RLUSD mint is tied to Ripple custody, so a freeze or compliance hold could gap peg 2% to 3% before arb fills. RLUSD held peg within 4 bps this week, even during $420 million volume.
When a ledger adds $580 million of its own dollar and AMM volume triples with sub-1 cent fees, traders get a place to park and trade. That is why XRPL flows hit a 12-month high.
#Ripple #RLUSD #XRP #XRPL #Stablecoins
XRP Ledger just found real stable flow, and it came from Ripple's own dollar. RLUSD supply hit $580 million this week, up 42% week over week, with $240 million minted on XRPL and $340 million on Ethereum. XRPL AMM volume tripled to $420 million daily, with RLUSD/XRP pool holding $180 million and 1.2 bps spread for $500k size.
Why this mint mattered is liquidity. XRPL AMM now allows single-sided RLUSD deposits with auto yield from fees, paying 6.8% annualized over the last 30 days. One market maker moved $42 million of XRP sales into RLUSD/XRP LP, cutting slippage for $5 million trades from 22 bps to 4 bps. Cross-border firms using Ripple Payments report 68% of flows now touch RLUSD before payout, versus 31% last month, since RLUSD settles in 3.2 seconds on XRPL with fee under $0.002.
On-chain data shows stickiness. RLUSD holders on XRPL rose to 184k, with median balance $1,240. Burns via fees are small, but bridge lock on Ethereum to XRPL hit $210 million, with median bridge time 14 seconds via Axelar. XRP/BTC ratio added 2.4% as more RLUSD bid dips. Lending on XRPL sidechain via a new EVM app offers 5.1% borrow on RLUSD against XRP, so levered XRP long via stable loan rose $120 million.
For traders, the setup is depth plus yield. Perp open interest on XRP rose $380 million, funding near 0.01% per 8h, so spot led. Options skew for XRP $1 calls for August rose 3 vol points. Short liquidations above $0.68 total $420 million, so a break could squeeze.
Risk is still chain limits. XRPL AMM caps at 2 pools per asset, so routing is less flexible than on Solana. Also, RLUSD mint is tied to Ripple custody, so a freeze or compliance hold could gap peg 2% to 3% before arb fills. RLUSD held peg within 4 bps this week, even during $420 million volume.
When a ledger adds $580 million of its own dollar and AMM volume triples with sub-1 cent fees, traders get a place to park and trade. That is why XRPL flows hit a 12-month high.
#Ripple #RLUSD #XRP #XRPL #Stablecoins