U.S. spot XRP ETFs recorded $125 million in daily trading volume on August 20, their highest level since launch, according to on-chain metrics provider XRP Update, while August net inflows have topped $56 million. The surge in regulated product activity comes as Ripple’s dollar-pegged RLUSD stablecoin has surpassed $2 billion in market capitalization, with nearly $1 billion issued on the XRP Ledger and a larger share on Ethereum, an eightfold rise since its December 2024 launch. Separately, Ripple processed nearly $16 trillion in transactions over the past year—a Visa-scale figure Chief Executive Officer Brad Garlinghouse tied mainly to Ripple Prime and Ripple Treasury—though only 0.1% currently settles on-chain; he said lifting that share is the priority for speed, cost and settlement certainty. RLUSD is backed by segregated cash and cash-equivalent reserves and redeemable 1:1 for U.S. dollars, supporting payments, liquidity and settlement across multiple networks. Neither record ETF volume nor the stablecoin milestone guarantees higher XRP prices, but together they point to deeper capital, liquidity and institutional attention around the XRP ecosystem.