Ripple’s RLUSD Adds Nearly $1B in 90 Days as Tether’s USDT Loses $5B

Ripple’s RLUSD stablecoin crossed $2.5 billion in supply after adding roughly $972 million over 90 days, the largest gain among major dollar tokens, while Tether’s USDT shed about $5 billion and USDC also contracted. The expansion makes RLUSD the fastest-growing major stablecoin of the past quarter even as the two largest tokens lost ground. The shift matters because stablecoin supply is a proxy for on-chain liquidity and settlement demand, and RLUSD’s growth signals rising institutional appetite for an alternative issuer. Watch whether RLUSD sustains its pace of minting, whether USDT redemptions continue, and how the supply rotation affects liquidity across the chains where RLUSD circulates.