Ripple’s RLUSD Stablecoin Dominantly Lives on Ethereum, Raising Concerns

Ripple's new stablecoin, RLUSD, is predominantly circulating on Ethereum, raising concerns among XRP supporters about the company's focus.

Exchange Rollouts and Technical Gaps

• Luke Judges, Ripple’s Global Partner Success Lead, explains that initial chain rollouts depend on existing exchange infrastructure.
• Ripple consistently promotes XRPL to exchanges, but Ethereum's established tools expedite listings.

On-Chain Numbers

• RLUSD's total supply is around $1.45 billion, with approximately $1.11 billion on Ethereum and $337 million on XRPL.
• This 77% distribution on Ethereum raises concerns over perceived preference.

Community Reaction

• Binance's decision to support RLUSD first on Ethereum intensified concerns about exchange preferences.
• Judges emphasized that some launches are based on technical readiness, not preference.

Future of XRPL

• Data showing increased trading activity on XRPL could alleviate concerns.
• Commitments to promote XRPL will be tested by its actual usage growth in the future.

Ripple maintains a commitment to XRP and XRPL, asserting that their focus remains there despite current distribution imbalances.