The XRP Ledger ecosystem is expanding beyond payments as Ripple USD (RLUSD) grows into a native dollar market, Flare’s FXRP channels XRP into DeFi, and XRPL’s proposed Lending Protocol advances through development. Ripple’s latest transparency data showed roughly $2.40 billion of RLUSD in circulation, backed by about $2.52 billion in reserve assets as of Sept. 3. RLUSD is issued on both XRPL and Ethereum, while XRP remains the ledger’s native asset for fees and reserves. Flare’s one-year update reported approximately 145.2 million FXRP minted, with 130 million deployed across DeFi and roughly 21 million moving to other chains through LayerZero infrastructure. FXRP keeps the underlying XRP on XRPL while Flare manages its programmable representation. Separately, XRPL version 3.4.0 introduced code for LendingProtocolV1_1, a proposed system for fixed-term, uncollateralized lending funded through Single Asset Vaults and supported by offchain borrower underwriting. The amendments still require governance approval before operating on mainnet, while Ripple, Clearpool and Cicada are developing an institutional credit market around RLUSD.