Ripple USD (RLUSD) continues to make waves in the crypto industry, reaching significant milestones within a short period. After only 106 days of operation, RLUSD has surpassed the 240 million circulating supply mark, highlighting its growing adoption.
As of March 31, 2025, CoinMarketCap data confirms RLUSD’s circulating supply at 243,690,000 tokens. This milestone underscores the rapid expansion of Ripple’s stablecoin in the market.
Ripple Mints Record 50 Million RLUSD in a Single Day
Ripple recently executed its largest-ever single-day minting, issuing 50 million RLUSD tokens. This massive supply increase propelled RLUSD past the 240 million milestone. However, Ripple has not officially addressed the reason behind this unprecedented minting event.
Source: CoinMarketCap
Despite the absence of an official statement, the surge suggests a rising demand for RLUSD among users. Ripple’s minting strategy reflects a calculated approach to ensuring supply meets market needs while avoiding oversaturation.
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Ripple has previously demonstrated a strategic approach to RLUSD supply control. Earlier in March, the stablecoin tracker revealed that Ripple’s treasury refrained from minting any new tokens for over four days. This deliberate pause likely aimed to balance market demand and prevent excessive supply.
Competing with Industry Leaders
While RLUSD shows promising growth, it still has a long way to go before competing with major stablecoins like Tether (USDT) and USD Coin (USDC). RLUSD’s $243 million market cap remains significantly smaller than USDT’s $144 billion and USDC’s $60 billion.
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Before competing with the largest stablecoins, RLUSD might first challenge PayPal’s PYUSD, which currently has a $720 million market cap. RLUSD remains $477 million behind PYUSD, indicating the work needed to close the gap.
Ripple CEO Brad Garlinghouse has expressed confidence in the stablecoin’s future, emphasizing that the company aims to rank among the top five stablecoins by the end of 2025.
