Ripple’s RLUSD Adds $228.8 Million as Stablecoin Market Stays Flat

Ripple USD (RLUSD) added $228.8 million to its market capitalization during the 30 days ending Nov. 4, reaching about $2.57 billion as much of the broader stablecoin market remained flat or contracted, extending its recent market-cap gains . About $1.72 billion in RLUSD was on Ethereum, while roughly $850 million to $870 million was on the XRP Ledger. Single-day mints on the XRP Ledger recently topped $110 million. A mint creates new tokens, usually after a dollar deposit; large holders can redeem RLUSD as quickly as they mint it, so supply can shift as their activity changes.