Ripple’s RLUSD stablecoin surpassed $2 billion in market capitalization less than two years after its December 2024 launch, with total circulation later reaching $2.27 billion and XRP Ledger supply exceeding $1 billion for the first time. Ripple confirmed the initial milestone on August 25, 2026, while RWA.xyz estimated approximately $2.02 billion and subsequent CoinMarketCap and community-tracker readings placed it between $2.08 billion and $2.11 billion. The Ripple Stablecoin Tracker reported $1,024,222,594 on the XRP Ledger and $1.24 billion on Ethereum. On August 27, $26.2 million was minted and $6.9 million burned on the XRP Ledger; on August 28, $36.9 million was minted and $7.5 million burned, while Ethereum recorded $53.3 million minted and $5 million burned. RLUSD represented more than 90% of XRP Ledger stablecoin value, supporting payments, settlement, decentralized-exchange activity and potential institutional lending, but its growth does not automatically create net demand for XRP or determine its price.