XRP News Today: Ripple USD Grows 47% in June, Debate Rages Over XRP Ledger Migration

Ripple’s dollar-pegged stablecoin, Ripple USD (RLUSD), has seen significant growth in the stable-value sector over the past six months, despite the majority of its issuance residing on the Ethereum network rather than the XRP Ledger. This situation has sparked a debate among XRP enthusiasts and skeptics, with pundit “Crypto Eri” arguing that Ripple’s long-term strategy will eventually position RLUSD on the XRP Ledger as a more competitive stablecoin.

Eri’s argument comes on the heels of Ripple activating its EVM-compatible sidechain, which brings full Ethereum-style smart-contract functionality to the XRP Ledger. This move has already seen over 1,400 contracts deployed in the first week, with the bridge live to 80 other chains through Axelar. The on-chain data shows that RLUSD’s circulating supply increased by 47 percent in June alone, reaching $455 million, with the majority still on Ethereum. This imbalance has led some to question whether RLUSD’s utility benefits Ethereum more than XRP, a point Eri concedes but believes will change as XRPL’s programmability and liquidity deepen.

Ripple’s strategy extends beyond technological advancements. The company has applied for a national trust-bank charter from the US Office of the Comptroller of the Currency, and its subsidiary, Standard Custody & Trust, has filed for a Federal Reserve master account. This move aligns with the pending GENIUS Act, which aims to impose a single federal regime on payment-stablecoin issuers. If granted, the charter would enhance trust, expand financial services, and remove the need for a patchwork of state licenses, enabling continued scalability at a lower cost.

Analysts suggest that if the charter is approved and RLUSD begins to migrate to the XRP Ledger, two key benefits could emerge for XRP. First, RLUSD remittances on XRPL would pay transaction fees in XRP, increasing demand for the asset. Second, the EVM sidechain allows decentralized-finance builders to access RLUSD liquidity without leaving XRP’s low-cost consensus layer, potentially reversing the flow of users and liquidity toward Ethereum. Eri argues that these steps give XRP enormous potential but require more time to unfold.

Currently, RLUSD’s growth is driven by Ethereum’s DeFi economy, with skeptics believing this trend will continue. Eri’s response is one of cautious optimism, acknowledging the uncertainty but confident in the long-term benefits for XRP. The technical and regulatory foundations are in place, but whether capital, compliance, and market demand will converge to shift RLUSD onto the XRP Ledger remains a critical question.