Ripple USD
Stablecoin Profile
Ripple USD (RLUSD) is a fiat-backed stablecoin pegged to USD, with $1.5B in circulating supply across 2 blockchain networks. Each RLUSD is backed by reserves held by the issuer, with parity attested via defillama. The peg has historically held within ±1% on most trading sessions, with reserve composition and attestation cadence the primary inputs to its credit-risk profile.
About Ripple USD (RLUSD)
Ripple USD (RLUSD) is designed to maintain a constant value of one US dollar
Natively issued on XRP Ledger and Ethereum blockchains, Ripple USD is fully backed by a segregated reserve of cash and cash equivalents and redeemable 1:1 for US dollars
Issuer & attestation
Ripple USD (RLUSD) is issued by Ripple Labs / Standard Custody & Trust, operating under New York State (NYDFS-regulated trust). Originally launched in 2024.
Reserve composition
Backed 1:1 by US dollar deposits, short-term US government bonds, and cash equivalents held by Standard Custody (a Ripple-owned NYDFS-regulated trust).
Issuer information is compiled from public disclosures, NYDFS / BMA regulatory filings, and primary-source attestation reports. Always verify directly with the issuer before making decisions.
Recent supply activity
Ripple USD (RLUSD) supply contracted by $24M (-1.55%) in the last 24 hours, contracted by $50M (-3.17%) over the past week, and expanded by $3.7M (+0.24%) over the past 30 days.
Steady issuance: supply has held roughly flat (0.24% over 30 days), consistent with mature stablecoin liquidity dynamics.
Supply History
Network distribution
Ripple USD circulates across 2 blockchain networks. Ethereum hosts the largest share at 79.98%, followed by XRPL at 20.02%. Cross-chain distribution has remained broadly stable over the past 30 days.
| Chain | Supply | Share | 24h Δ | 30d Δ |
|---|---|---|---|---|
| Ethereum | $1.2B | 79.98% | -1.13% | +3.94% |
| XRPL | $305.4M | 20.02% | -3.17% | -12.23% |
Peg stability history
Ripple USD (RLUSD) is designed to trade at exactly 1.00 USD, with its peg defended through direct redeemability against off-chain reserves. Spot price currently sits at $1.0000, a -0.003% deviation from the target — well inside the stability band typical for reserve-backed dollar tokens.
How reserve-backed stablecoins defend their peg
Fiat-backed stablecoins maintain their peg through arbitrage: any time the secondary-market price drifts above $1.00, authorised participants mint new tokens by depositing dollars and sell them into the market; any time it drifts below, they buy on the open market and redeem 1:1 for dollars. The peg therefore depends entirely on (a) the reserves actually existing, (b) the issuer honouring redemption requests promptly, and (c) the issuer remaining solvent and unfrozen.
Practical implications for holders
- Counterparty risk is concentrated in the issuer and its banking partners — a banking failure (as in the March 2023 USDC / SVB episode) can cause short-term depegs even when the underlying reserves are sound.
- Reserve attestations are not full audits. Always read the firm name, scope, and date of the latest attestation report before treating the peg as risk-free.
- Redemption rights typically apply only to verified institutional partners, not to retail holders. Retail exposure is exited via secondary markets, where liquidity matters most during stress periods.
- Regulatory action against the issuer (NYDFS orders, OFAC freezes, court-ordered blacklists) can immediately impair specific addresses or even the entire token.
- Mantapex tracks peg deviation in real time from DeFiLlama price feeds, but for high-value holdings cross-check directly on at least one independent venue (CoinGecko, the issuer's own dashboard, or an on-chain DEX).
Peg-stability commentary is based on the mechanism class (reserve-backed) and is provided for educational purposes only — it is not financial advice. Past peg stability is not a guarantee of future performance, and even the highest-quality stablecoins have historically traded outside their target band during banking, regulatory, or liquidity stress.
Contract addresses
Ripple USD (RLUSD) is deployed as a token contract on 1 blockchain network below. Always verify the contract address you're interacting with on the relevant block explorer before sending funds — phishing tokens reusing well-known stablecoin tickers are common, especially on newer chains.
| Chain | Contract address | Verify |
|---|---|---|
| Ethereum | 0x8292bb45bf1ee4d140127049757c2e0ff06317ed | Explorer |
Contract addresses are sourced from DeFiLlama's stablecoin profile. Some chains (Tron, Solana, Aptos, Sui) use non-EVM address formats. The "Explorer" link opens the official block explorer for the given chain; we do not link out to third-party explorers that may show altered data.
Compare Ripple USD to other fiat-backed stablecoins
Below are the largest fiat-backed stablecoins tracked on Mantapex alongside Ripple USD (RLUSD). Comparing supply and chain footprint within the same mechanism class is more meaningful than cross-class comparison, because the underlying peg-defence assumptions are different.
| Stablecoin | Supply | Mechanism | Chains |
|---|---|---|---|
| Tether (USDT) | $184.1B | fiat-backed | 107 |
| USD Coin (USDC) | $79.6B | fiat-backed | 125 |
| World Liberty Financial USD (USD1) | $4.5B | fiat-backed | 8 |
| PayPal USD (PYUSD) | $4.1B | fiat-backed | 7 |
| BlackRock USD (BUIDL) | $2.5B | fiat-backed | 8 |
Peg Stability
Chain Distribution
Resources & data sources
Ripple USD (RLUSD) is tracked across major crypto data providers. The links below open Ripple USD (RLUSD)'s pages on CoinGecko, CoinMarketCap and DeFiLlama, so you can cross-check supply, market cap, exchange listings and historical price data directly at the source.
Price feed sourced from defillama. Supply, peg and chain-distribution data are aggregated from DeFiLlama's stablecoins dataset, which combines on-chain balances across supported networks. Numbers on this page typically refresh every 10 minutes.
Recent Ripple USD news
Latest reporting from major crypto news outlets covering Ripple USD.
- Crypto news
Ripple burns another 10M RLUSD as supply falls 20% from peak
Ripple burned another 10 million RLUSD as supply fell about 20% from its May peak, while new AI payment integrations expand its utility.
- CoinPedia
XRP News: Ripple's RLUSD Powers $250K Grant Program for Veteran Employers
Ripple has announced a new initiative focussed at helping veteran- and military spouse-owned businesses grow. In partnership with Hire Heroes USA, the company is investing…
- UToday
Ripple Burns Another 10 Million RLUSD
Ripple has burned another 10 million RLUSD tokens, extending a series of treasury supply reductions that have steadily reduced the circulating supply of its U.S. dollar-backed…
- Blockonomi
Ripple Joins x402 Foundation to Advance AI Payments With XRP and RLUSD
Ripple brings XRP and RLUSD to x402, helping standardize fast autonomous AI payments across the web.
- Crypto Briefing
Interactive Brokers adds 12 crypto tokens and launches stablecoin withdrawals
Interactive Brokers' crypto expansion enhances portfolio fluidity, potentially increasing client engagement and trading activity in digital assets. Interactive Brokers adds 12…
- Crypto Briefing
Interactive Brokers adds USDC, PayPal USD, and RLUSD withdrawals alongside nine new tokens
Interactive Brokers added stablecoin withdrawals through USDC, PYUSD and RLUSD while expanding its crypto platform with nine additional tokens. Interactive Brokers adds USDC,…
- Blockonomi
Interactive Brokers (IBKR) Stock Climbs on Major Crypto Expansion with 12 New Tokens
IBKR shares advance following announcement of enhanced cryptocurrency capabilities and token additions.
- Coingape
Ripple Joins x402 Foundation to Advance XRP, RLUSD Agentic Payments on XRPL
Crypto firm Ripple has joined the x402 Foundation as it looks to expand the use of XRP and RLUSD among AI agents. The crypto notably joins Coinbase, Circle, Google, and…
Related stablecoins
Stablecoins comparable to Ripple USD by collateral mechanism, peg currency, or circulating supply — handy for spotting alternatives if a peg breaks or a regulator forces a delist.
Other fiat-backed stablecoins
Stablecoins pegged to USD
Risk Warning
Stablecoins carry risks including de-pegging, regulatory changes, and counterparty risk. Always diversify and do your own research.