XRP Gains 30% in a Month as XRPL Stablecoin Value Tops $1.1 B

At a snapshot taken on September 11, XRP traded around $1.32 after a recent 8.7% dip over the prior week. Over the same month the XRP Ledger’s (XRPL) stablecoin ecosystem expanded to $1.126 billion, a 22.2% increase from mid‑August, and the ledger’s decentralized‑exchange (DEX) recorded $253.1 million in volume – a 152.1% rise from the previous 30‑day period.

Stablecoin growth on XRPL

DefiLlama’s data show the total dollar value of tracked XRPL‑issued stablecoins rose from $921.9 million on August 12 to $1.126 billion on September 11. The ledger also reported about 1.0315 billion RLUSD issuer obligations, roughly 43% of Ripple’s reported RLUSD circulation of 2.3956 billion at the time.

DEX activity spikes

Monthly DEX turnover surged to $253.1 million, while the most recent seven‑day window saw volume fall to $30.6 million, a 25.4% decline from the prior week. The contrast indicates strong activity earlier in the month that remains counted in the 30‑day total.

Visible XRP liquidity pool

An XRP/RLUSD automated market maker tracked by XRPL.to held about 1.724 million XRP and 2.288 million RLUSD. Valued at $1.32 per XRP and $1 per RLUSD, the pool’s total reserves were roughly $4.6 million – about 0.41% of the XRPL stablecoin market.

Implications for XRP’s role

XRPL’s auto‑bridging mechanism can route trades between issued tokens through XRP when it yields a better price than a direct pair. However, the data do not reveal how often XRP is actually used in routing, nor how long market makers retain XRP balances. The modest size of the observed pool relative to the stablecoin base suggests a large gap between dollar‑linked assets and XRP‑backed liquidity.

What’s needed to gauge value capture

Future analysis will require path‑level reporting that shows the share of trades routed through XRP and inventory data that indicates how long liquidity providers hold XRP. Until such metrics appear, the current figures point to a growing opportunity for XRP liquidity rather than confirmed sustained demand.