Ripple CEO Brad Garlinghouse stated that XRP and RLUSD are two complementary assets with distinct use cases, clarifying the company’s position on the relationship between its native token and its stablecoin.
In a post on X, Garlinghouse explained that RLUSD is designed for stablecoin transactions, while XRP provides liquidity and enables cross-border transactions. He noted that both assets aim to expand Ripple’s payment network and drive activity on the XRP Ledger. This statement addresses ongoing investor debate regarding whether the growth of RLUSD could reduce the utility of XRP, particularly as major traditional finance players explore RLUSD for cross-border payments and other financial activities.
RLUSD supply shifts to Ethereum
On-chain data from the last 30 days shows a significant redistribution of RLUSD across networks. According to DeFiLlama, the total supply of RLUSD exceeded $2.5 billion for the first time. However, the distribution of this supply has changed markedly between the XRP Ledger and the Ethereum network.
RLUSD supply on the XRP Ledger dropped by more than 30% to $850 million over the past month. In contrast, RLUSD supply on the Ethereum network increased by more than 34% to $1.7 billion in the same period. As a result, nearly 70% of RLUSD’s total supply is now located on the Ethereum network, while a smaller fraction remains on the XRP Ledger.
This shift indicates that while RLUSD is gaining traction as a stablecoin, its primary on-chain presence is moving away from the XRP Ledger. The decrease in RLUSD liquidity on the XRPL could impact on-chain utility, as less of the stablecoin is available for transaction purposes within that specific ecosystem.
XRP whale accumulation hits 2026 high
While RLUSD supply on the XRP Ledger declines, data on XRP wallet holdings shows a different trend among large investors. Wallets holding 1 million or more XRP tokens have reached an all-time high for 2026.
There are currently 2,147 XRP wallets containing a million tokens or more. This number increased by 28 wallets in just the last 10 days. In the last three days alone, 18 new wallets were added to the 1 million+ XRP holder category.
The divergence between the two data sets suggests that investor interest may be shifting toward XRP accumulation even as RLUSD expands on other networks. Large holders appear to be increasing their XRP exposure, potentially strengthening the token’s position within the XRPL ecosystem despite the reduction in stablecoin liquidity on that specific chain.
Frequently Asked Questions
What did Brad Garlinghouse say about XRP and RLUSD?
Brad Garlinghouse stated that XRP and RLUSD are complementary assets with different use cases, with RLUSD used for stablecoin transactions and XRP providing liquidity for cross-border transactions.
How has RLUSD supply changed on the XRP Ledger and Ethereum?
RLUSD supply on the XRP Ledger dropped more than 30% to $850 million in the last 30 days, while supply on the Ethereum network increased by more than 34% to $1.7 billion.
