Ripple’s RLUSD Stablecoin Reaches $170 Million Market Cap, Aiming for Top Five Spot
Ripple’s USD-pegged stablecoin, RLUSD, has reached a market cap of $170 million, positioning itself to become one of the top five stablecoins in the cryptocurrency industry.
In the company’s latest report, it was revealed that RLUSD surpassed internal projections to achieve this new market cap record. The stablecoin has experienced growing interest from institutional investors, which has provided the necessary ingredients for its growth.
RLUSD Witnesses Significant Growth in February
The positive news was shared in a post on X by Jack McDonald, Ripple’s Senior Vice President. McDonald highlighted various aspects of the February attestation, noting the continued strong performance of the stablecoin. He mentioned that RLUSD is now being utilized in DeFi liquidity pools and other use cases. Additionally, NGOs have started adopting the token for donations.
The increase in RLUSD’s market cap demonstrates its growing demand and utility. Launched in December 2024, the stablecoin made its debut on several exchanges and has since been listed on additional platforms.
Ripple CEO Predicts Top Five Status
Aside from its growth, RLUSD aims to secure a spot in the top five stablecoins. According to the February attestation, there has been a significant increase in mining activity, with approximately 17 million RLUSD tokens minted daily at the RLUSD Treasury.
Ripple CEO Brad Garlinghouse has predicted that RLUSD will achieve a top-five position by the end of the year. This projection aligns with the overall bullish sentiment in the stablecoin market. Garlinghouse discussed the future of stablecoins and mentioned that RLUSD has the potential to become one of the leading tokens in the sector.
Industry analysts have also recognized the potential of RLUSD to challenge the market leaders, especially if its adoption in the decentralized finance (DeFi) industry and its use for cross-border activities continue at their current pace. Additionally, the strong relationship between Ripple and financial institutions and payment services may give RLUSD an advantage in traditional finance.