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.
- CryptoPotato
XRP and RLUSD Power New AI Economy After XRPL's Latest Big Update
The Starter Kit will allow developers to build autonomous payment apps powered by XRP and RLUSD.
- Coincu
Ripple XRPL Toolkit Launch Adds XRP, RLUSD to x402 Payments
Ripple has launched an XRPL Toolkit aimed at developers building on the XRP Ledger, while XRP and the RLUSD stablecoin have been added as supported assets within the x402 payment…
- Coindesk
Ripple wants AI agents to pay in XRP and RLUSD. The market is still mostly USDC
The XRPL AI Starter Kit gives developers tools for agent payments, but early x402 activity has clustered on Base and Solana. Ripple's bet is that XRPL's speed, low fees and RLUSD…
- Bitcoin
XRPL and RLUSD Take Center Stage as Ripple Joins Mastercard's AI Payments Push
Ripple is participating in Mastercard's Agent Pay for Machines effort, placing XRPL and RLUSD in a wider push to support AI-driven payments. Mastercard is working with more than…
- Crypto Economy
Ripple Enables Machine-to-Machine Payments Using XRP and RLUSD
L;DR: The developer toolkit includes support for the X402 protocol, enabling transactions with XRP and the RLUSD stablecoin. Operations on the ledger feature a deterministic…
- CoinPedia
Ripple Partners With Water.org To Expand Clean Water Access Using RLUSD
Ripple is taking another swing at proving that blockchain isn't just about speculation. This time, the company has joined Water.org's Get Blue campaign as the exclusive digital…
- BeInCrypto
Ripple Joins Matt Damon to Fight Global Water Crisis With RLUSD
Ripple has joined Water.org, co-founded by Matt Damon, as the exclusive digital asset and payments partner for its Get Blue campaign, deploying its Ripple USD (RLUSD) stablecoin…
- Coingape
Ripple Launches Toolkit to Enable AI Agents to Pay With XRP and RLUSD on XRPL
Crypto firm Ripple has launched the XRP Ledger (XRPL) AI Starter Kit, which will enable agentic payments using XRP and RLUSD. This comes amid Mastercard's partnership with Ripple…
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.