Here’s a more concise, punchy rewrite with a newsroom-style tone and tighter structure:

XRPL Stablecoin Supply Hits $762M as RLUSD Dominates Network Liquidity

Stablecoin supply on the XRP Ledger has climbed to $762 million, marking a 22% increase in recent weeks and highlighting RLUSD’s firm grip on network liquidity. Ripple’s stablecoin now accounts for roughly 83%–88% of XRPL’s native stablecoin market.

Network activity is rising alongside supply. Monthly transfer volume surged 123% to $4.71 billion, while the 30-day stablecoin market cap crossed $888.5 million—signaling sustained demand rather than a short-term spike.

However, adoption remains limited. XRPL currently has just 110 RWA holders, pointing to a gap between growing infrastructure and actual user participation.

XRP has also posted modest gains, rising 3.2% in the past 24 hours to trade near $1.16 after reclaiming the $1.10 level, with daily volume around $2 billion.

RLUSD Fuels Growth, Expands Across Chains

Launched by Ripple in December 2024, RLUSD is a fully backed, USD-pegged stablecoin regulated by the New York Department of Financial Services, with reserves held 1:1 at BNY Mellon.

Its regulatory framework has helped attract institutional interest, driving steady growth through 2025. XRPL’s stablecoin supply remained below $100 million for much of the year before accelerating in late 2025, surpassing $200 million in November and continuing upward to current levels.

While RLUSD dominates XRPL, most of its supply—around 77% to 82%—resides on Ethereum, where it is actively used in DeFi, underscoring its multi-chain strategy.

RWA Growth Outpaces Real Usage

XRPL’s tokenized asset ecosystem has expanded to $3.57 billion in total value, but only $385 million is actively circulating on-chain, highlighting a significant utilization gap.

Messari data shows XRPL’s RWA market cap reached $2.25 billion in Q1 2026, up 124% quarter-over-quarter. Key contributors include OpenEden’s TBILL Vault, Ondo Finance’s tokenized Treasuries, and RLUSD.

Institutional activity is emerging. In May 2026, a tokenized U.S. Treasury redemption pilot involving Ondo Finance, JPMorgan Kinexys, Mastercard, and Ripple was completed in 4.2 seconds, demonstrating fast cross-border settlement capabilities.

High Concentration Signals Early-Stage Adoption

Despite rapid growth, participation remains concentrated. Just 110 holders control $3.57 billion in RWA assets, implying average exposures above $30 million—indicative of institutional dominance.

This concentration raises questions around liquidity distribution and broader adoption. The gap between total value and actively circulating assets suggests XRPL’s ecosystem is still in an early phase, with real usage yet to fully catch up with infrastructure expansion.