RLUSD market cap is only about $248 million away from surpassing PayPal's PYUSD

PANews, September 28 - According to Bitcoin.com, the supply of Ripple's stablecoin RLUSD recently hit a new high, with a market cap of about $2.491 billion, up more than 86% from $1.336 billion at the start of 2026, leaving it only about $248 million short of PayPal's PYUSD, which has a market cap of about $2.739 billion. Over the past week, RLUSD's supply increased by about $112 million, while PYUSD's decreased by about $61 million. PYUSD's supply was about $3.531 billion at the start of the year, peaked at $4.214 billion on March 5, and is currently down about 35% from that peak.

Looking at the issuing networks, from September 21 to 28, RLUSD's supply on the XRP Ledger grew from $1.036 billion to $1.099 billion, an increase of about $63 million; its supply on Ethereum grew from $1.343 billion to $1.392 billion, an increase of about $49 million. The XRP Ledger currently accounts for about 44% of RLUSD's total supply, while Ethereum accounts for about 56%.