Ripple’s RLUSD Stablecoin: Aiming for the Top 5
Ripple’s RLUSD stablecoin is making waves in the cryptocurrency market, with ambitious plans to secure a top-five position among stablecoins by the end of 2025. Launched in December 2024, RLUSD has already demonstrated rapid growth, fueled by record-breaking minting activity and a favorable regulatory environment following the U.S. Securities and Exchange Commission (SEC) dropping its lawsuit against Ripple Labs.
RLUSD’s Record-Breaking Minting on Ethereum
In March 2025, Ripple minted an unprecedented 50 million RLUSD tokens on the Ethereum blockchain, marking the largest single-batch issuance in stablecoin history. This aggressive minting strategy has propelled RLUSD’s market cap to $243 million, according to CoinGecko. While still trailing behind giants like Tether (USDT) and Circle’s USDC, RLUSD’s growth trajectory signals strong potential.
Ripple CEO Brad Garlinghouse expressed confidence in RLUSD’s future, stating, “The goal is by the end of the year for RLUSD to be one of the top five stablecoins in the market. I think the whole market is going to grow dramatically this year.”
Why RLUSD Matters in the Stablecoin Ecosystem
Stablecoins have become a cornerstone of the cryptocurrency ecosystem, offering traders a reliable way to manage risk and facilitate transactions. RLUSD stands out for its high volume-to-market cap ratio, indicating robust trading activity. Much of this activity is concentrated on Bullish, a cryptocurrency exchange backed by billionaire Peter Thiel.
Beyond trading, RLUSD is gaining traction in real-world applications. Nonprofits like Mercy Corps Ventures have adopted the stablecoin, showcasing its utility beyond decentralized finance (DeFi). Analytics firm IntoTheBlock reports that RLUSD is rapidly gaining traction, positioning itself as a serious contender in the $100+ billion stablecoin market.
SEC Victory Boosts Ripple’s Ambitions
Ripple’s growth momentum received a significant boost when the SEC announced it was dropping its lawsuit against the company. The legal battle, which began in 2020, centered on allegations that Ripple had sold unregistered securities. A 2022 court ruling clarified that open-market sales of XRP to retail investors did not qualify as securities, paving the way for Ripple to focus on expanding its stablecoin operations.
Garlinghouse highlighted the broader implications for the stablecoin sector, stating, “Today, the market is about $230 billion. Some smart people think that may go up 10x in the next five years—I think that’s probably right.”
The Road Ahead for RLUSD
To achieve its top-five goal, RLUSD would need to surpass a $3 billion market cap, competing with established players like DAI ($3.2 billion). Ripple’s aggressive minting strategy, coupled with expanding use cases, suggests the company is well-positioned to scale its stablecoin ambitions.
As the stablecoin market continues to evolve, RLUSD’s growth underscores the increasing importance of regulatory clarity and real-world utility in driving adoption. With Ripple’s strategic focus and favorable market conditions, RLUSD could emerge as a major player in the stablecoin space by the end of 2025.
