Ripple’s enterprise-focused RLUSD stablecoin is experiencing unexpected retail adoption momentum on the XRP Ledger, challenging its initial strategic positioning and intensifying competition with established players like USDC.
Originally launched in late 2024 with institutional clients as the primary target, RLUSD usage has notably shifted toward retail platforms including Xaman wallet. Market analysts highlight RLUSD’s emergence as a dual-purpose instrument, functioning comparably to general-purpose stablecoins despite its enterprise-oriented blueprint.
Current metrics reveal a striking discrepancy: while 88% of RLUSD’s $557.7 million market capitalization exists on EVM-compatible sidechains, a dominant 91% of its 34,160 active users operate specifically on the XRP Ledger. This unanticipated retail pivot directly challenges Ripple’s original enterprise-centric approach.
The development intensifies stablecoin market competition, forcing Ripple to reconcile institutional-grade robustness with growing retail accessibility demands. Observers suggest the company’s ability to balance these diverging requirements will prove critical as RLUSD continues expanding its market footprint.