Ripple’s RLUSD Bigger Than PayPal’s Stablecoin Market
Ripple’s recently launched stablecoin, RLUSD, reached a noteworthy milestone. It surpassed PayPal USD (PYUSD) and EURC in 24-hour trading volume.
RLUSD recorded a daily trading volume of $35 million, surpassing PYUSD’s $19.7 million and EURC’s $12.4 million, according to data shared on X by the Paul Barron Network. The strong reception of RLUSD in the banking and decentralized finance (DeFi) sectors is reflected in this volume spike.
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RLUSD’s ability to beat more well-known competitors like PYUSD demonstrates Ripple’s stablecoin strength.
PayPal’s large user base helps PYUSD, but RLUSD offers special value propositions due to its integration with the XRP Ledger and emphasis on cross-border payments. RLUSD had significantly outperformed EURC and PYUSD. It is currently ranked fourth at $417.8 million in 24-hour trading volume. It trails USDC, USDT, and FDUSD.
Ripple introduced RLUSD as part of a larger plan to fortify its position in the banking industry and enter the DeFi market. It is accessible on the Ethereum network as well, exposing a wide spectrum of users to the XRP ecosystem and enabling them to benefit from it.
Ripple wants RLUSD to reach a $2 trillion market valuation before the end of this decade. This forecast illustrates the company’s aim to build a long-term presence in a market where rivals like Tether and Circle continue to pose a serious threat.
Monica Long, the president of Ripple, claims that RLUSD is meant to supplement XRP rather than take its place. According to her statement from last June, “The RLUSD stablecoin is designed as a complementary element to the XRP ecosystem,” positioning the two assets as strategic pillars within Ripple’s offering
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