Ripple's stablecoin (RLUSD) has recorded a massive spike in trading volume over the last 24 hours, soaring by over 260%. According to CoinMarketCap data, RLUSD has increased by 260.43% or $69.72 million within the specified time frame.
The significant increase suggests increased demand for the stablecoin among users on the broader cryptocurrency market. Notably, RLUSD has gained considerable traction on the stablecoin market, despite being overshadowed by industry leaders such as Tether (USDT) and Circle (USDC).
For instance, in June 2025, RLUSD was among the top three traded stablecoins on Bitstamp, a European-founded exchange. This signals growing adoption among users in the crypto space. As highlighted by Bitstamp’s general manager, Leonard Hoh, RLUSD is unlocking real-world utility for retail users.
Similarly, Bitget exchange listed two additional pairs of RLUSD on its platform last month. The development could have contributed to the current surge as new users on Bitget now have access to the stablecoin.
Additionally, the broader crypto market remains volatile, dropping by 1.02% in the last 24 hours. This might have prompted investors to turn to stablecoins for safety. In the past, during periods of market uncertainty, investors have converted part of their asset holdings to the relatively more stable RLUSD.
Besides exchanges, another sign of increasing adoption was seen on the DeFi platform Euler Finance. The volume of RLUSD borrowed on the DeFi platform recently hit an all-time high (ATH) of 49.97 million RLUSD.
The development was considered significant as Euler Finance only listed RLUSD in May 2025. With the platform allowing users to use RLUSD as collateral, borrow against it or lend it, the spike indicates growing demand for the stablecoin on the market.
Meanwhile, the growing demand for RLUSD could have a positive impact on XRP, the ecosystem's native currency, which has managed to remain above $2 despite the general market volatility.
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