Can XRP and RLUSD grow together? Here is Garlinghouse’s view!

For years, traders have debated whether or not RLUSD may take away a few of XRP’s utility. 

Since its launch, there was some concern that XRP could fade as RLUSD develops extra use circumstances in the actual world. Main conventional finance gamers are additionally exploring RLUSD for cross-border funds and different monetary actions, including to this debate. Brad Garlinghouse’s newest feedback assist make clear Ripple’s place.

In a submit on X, he talked about XRP and RLUSD as two complementary belongings which have completely different use circumstances. Whereas RLUSD can be utilized for stablecoin transactions, XRP remains to be helpful for offering liquidity and enabling cross border transactions. In brief, each belongings finally goal to broaden Ripple’s fee community and drive extra exercise on the XRP Ledger. 

Nonetheless, the on-chain knowledge presents a blended image. 

In line with DeFiLlama, RLUSD has seen its total supply exceed $2.5 billion for the primary time. However the distribution throughout networks tells a special story. RLUSD provide on the XRP Ledger has dropped greater than 30% to $850 million within the final 30 days. Throughout that point, the provision of RLUSD on the Ethereum community has elevated by greater than 34% to $1.7 billion. Which means that almost 70% of RLUSD’s complete provide has moved to the Ethereum community, whereas solely a fraction exists on the XRP Ledger.

From an adoption standpoint, the on-chain pattern provides one other layer to the XRP-RLUSD debate. Whereas RLUSD is gaining traction as a stablecoin, Ripple [XRP] wallets proceed to draw massive holders, suggesting that demand for each belongings could also be rising by means of completely different use circumstances relatively than competing with one another.

XRP wallets hit 2026 excessive as RLUSD provide shifts to Ethereum

The above knowledge factors to a transparent shift in exercise throughout the XRP Ledger ecosystem. 

As beforehand talked about, RLUSD provide throughout the XRPL community is falling. This might influence on-chain utility. As the quantity of liquidity from the stablecoin falls, much less RLUSD will probably be used for transaction functions. Nonetheless, XRP pockets knowledge reveals a special pattern, with massive holders persevering with so as to add to their positions.

The chart under reveals that wallets holding 1 million+ XRP have hit an all-time excessive for 2026. There are at the moment 2,147 XRP wallets containing one million tokens or extra. That is up by 28 XRP wallets in simply 10 days. Within the final three days alone there have been 18 new XRP wallets added to the 1 million+ XRP holder class.

In essence, the on-chain knowledge provides a brand new dimension to Brad Garlinghouse’s argument. 

Whereas the RLUSD liquidity on XRPL is reducing, massive holders seem like rising their XRP publicity, suggesting that investor curiosity is step by step shifting towards XRP. This divergence highlights an necessary change throughout the ecosystem. Though RLUSD continues to broaden on Ethereum, XRP is seeing stronger accumulation amongst massive wallets, doubtlessly strengthening its place as a key asset throughout the XRPL.

Ultimate Abstract

• RLUSD provide on XRPL fell 30%, whereas its Ethereum provide grew 34%.

• XRP millionaire wallets hit a 2026 excessive of two,147, displaying rising curiosity from massive holders.